Chosun Hotel & Resort will launch two new hotels in the first half of 2027: a 232-room property in Seoul’s Jongno district and a 427-room hotel in Yeosu, South Jeolla Province. The Jongno location, previously the Orakai Daehakro Hotel completed in 2019, was acquired in June 2026. Brand conversion will begin January 2027, with new signage by mid-year. The Yeosu hotel, formerly the Ramada Plaza by Wyndham Yeosu completed in 2020, was acquired in October 2026. This marks the company’s first establishment in South Korea’s Honam region.
Chosun’s Expansion Strategy Towards 14 Hotels by 2030
The two new hotels will be Chosun Hotel & Resort’s 10th and 11th
properties, as part of a wider plan to grow to 14 locations across South Korea by 2030. The company prioritizes acquiring existing hotels and applying its own brand through conversions instead of constructing new buildings. Chosun formed a consortium with Shinsegae Property Investment Management to undertake asset acquisition and development. A project REITs structure was employed to separate asset ownership from hotel operations. The acquisitions for both Jongno and Yeosu hotels have been completed as of 2026.
Investments and Renovations at Flagship Hotels
Chosun Palace in Gangnam, Seoul, which opened in May 2021 and serves over 80% foreign guests, will begin construction in December 2026 on
new facilities spanning about 1,256 square meters. These include a luxury urban wellness spa on the 26th floor, a high-end Japanese omakase restaurant, and a business lounge on the 27th floor. The additions are scheduled to open in the first half of 2027.
The Westin Josun Seoul completed suite renovations and launched sales of new rooms on October 26, 2026. It introduced a 90-square-meter Premium Executive Suite with residence-style design featuring wood finishes and smart TVs. Family twin rooms were upgraded by replacing beds with two queen beds. Cocktail recipes using premium South Korean liquor and tea are provided for
foreign guests.
Westin Josun Busan recently finished a three-year renovation of its Grand Ballroom, which accommodates up to 500 guests. The ceiling height was increased and architectural lighting was redesigned to reflect the hotel’s eaves lines and blue tiles. The ballroom now connects directly to an outdoor garden in Haeundae, enhancing its function for large corporate events and weddings.
CEO Comments on Growth and Strategy
Choi Hoon-hak, CEO of Chosun Hotel & Resort, described 2027 as a turning point: “2027 will be an important turning point as Chosun Hotel & Resort’s hotel business moves into a new growth phase, with new openings at major South Korean
locations pursued in earnest.” He added, “Based on more than 110 years of accumulated hotel operating experience and service capabilities, we will continue to expand our hotel portfolio while strengthening the customer experience at our flagship hotels, further solidifying our competitiveness as South Korea’s leading hospitality company.”
Industry Context and Market Implications
Chosun Hotel & Resort’s expansion aligns with a broader industry trend in South Korea emphasizing asset-light strategies and brand growth following post-COVID-19 recovery in inbound tourism demand. Acquisition and brand conversion of operating hotels accelerate market entry while reducing initial investment compared to new builds. Using a project REIT structure allows the company
to separate asset ownership from operations, securing brand revenues and lessening financial risks.
As the portfolio grows in varied regions such as central Seoul, Yeosu, Cheongna in Incheon, and Andong in North Gyeongsang Province, challenges in brand positioning and service standardization emerge. Balancing flagship luxury brands like Josun Palace and Westin Josun with newly acquired properties affects average daily rates and occupancy levels. Regional demand volatility, especially in tourism-dependent areas like Yeosu, may influence performance seasonally.
