Rumors of The Plaza Hotel Shutdown Sparked by Office Conversions and Losses
Creatrip Team
2 months ago
Hanwha Hotel & Resorts denies online claims that The Plaza hotel in downtown Seoul will close and undergo major renovation next April. The company insists it is taking reservations, including weddings, and says reports originated from erroneous media and YouTube content. Still, persistent rumors reflect deeper troubles: Hanwha’s hotel arm has posted three consecutive years of losses and converted some guest rooms into corporate offices, a move critics say damaged market confidence. Executive Kim Dong-seon is pursuing brand deals and acquisitions, but analysts warn that restoring core hotel profitability is essential to silence shutdown speculation and rebuild trust. (The Plaza: a landmark luxury hotel near Seoul City Hall)
