Parnas Hotel & Resort posted record first-half 2026 sales of 285.5 billion won and operating profit of 54.3 billion won, marking a 41% increase in sales and a 92% jump in operating profit year-on-year, according to Seoul Economic Daily on August 14, 2026.
Westin Seoul Parnas Opens as Growth Driver
The Westin Seoul Parnas, which commenced operations in September 2025, delivered 69.9 billion won in sales and 5.3 billion won in operating profit during the first half of 2026. Its occupancy rate reached 91.5% in the second quarter, alongside an operating margin of 13.4%, contributing significantly to the group’s overall profit expansion.
Grand InterContinental Seoul Parnas Boosts Revenue
Grand InterContinental Seoul Parnas achieved
first-half sales of 104.3 billion won with operating earnings of 18.7 billion won. The hotel recorded a 91.8% occupancy rate in the second quarter, while its food and beverage revenue grew 15.9% compared to the previous year.
Jeju, Nine Tree, and Leasing Business Results
Parnas Hotel Jeju reported 22.4 billion won in sales despite undergoing renovation on guest rooms and pool facilities. Foreign visitors increased by approximately 29%, driving the share of foreign guests from 16.0% to 23.6% during the period.
Nine Tree by Parnas posted first-half sales of 51.2 billion won, up 11.8% year-on-year, and operating profit of 12.0 billion won, an increase of 21.8%. The
brand benefited from demand by foreign independent travelers in Seoul districts including Myeongdong, Insadong, and Dongdaemun.
The leasing division centered on Parnas Tower recorded sales of 35.5 billion won and operating profit of 19.2 billion won, up 7.9% compared to the prior year, providing stable earnings for the company.
Expansion into Senior Residences and Operations
Parnas Hotel & Resort has broadened its business portfolio by entering the senior residence sector and managed operation services. It is currently operating Soyo Hannam by Parnas, a high-end senior residence, and handling the management of Inscape Yangyang by Parnas.
A company official commented, “With the Westin Seoul Parnas establishing itself
as a new growth pillar, our existing hotels and leasing business also grew evenly,” reflecting the balanced growth across its operations.
