Chosun Hotel & Resort announced on November 2, 2026, that it will open two new hotels in South Korea’s Jongno district, Seoul, and Yeosu, South Jeolla Province, in the first half of 2027. These additions will bring the company’s portfolio to 11 hotels, aiming to reach 14 by 2030.
Both new properties were acquired rather than newly constructed. The Jongno location is the Orakai Daehakro Hotel, a 232-room, four-star hotel completed in 2019 and acquired by Chosun in June 2026. Brand conversion for this hotel will begin in January 2027 and is expected to complete within the first half of
that year. The Yeosu property is the Ramada Plaza by Wyndham Yeosu, a 427-room hotel finished in 2020, acquired in October 2026. This will be Chosun Hotel & Resort’s first entry into the Honam region.
The company formed a consortium with Shinsegae Property Investment Management to execute the acquisitions. The asset-holding and hotel-operating functions are separated using a project REITs structure, enabling financial efficiency and securing brand profits. The company’s expansion strategy employs asset-light growth focusing on acquisitions and brand conversions instead of new construction, reducing capital investment and accelerating market entry.
Beyond the new hotels set to open in
2027, Chosun Hotel & Resort plans further expansion to key locations including Incheon Cheongna and Andong in North Gyeongsang Province. The target is to reach a 14-hotel portfolio across South Korea by 2030.
Existing flagship hotels are also undergoing upgrades. Josun Palace in Seoul’s Gangnam district, which opened in May 2021 and hosts over 80% foreign guests, is adding approximately 1,256 square meters of new facilities including a luxury urban wellness spa, a high-end Japanese omakase restaurant, and a business lounge. Construction on a wellness club on the 26th floor and guest rooms on the 27th floor will start in
December 2026 and complete in the first half of 2027.
Westin Josun Seoul finished renovating its suite rooms, launching sales on October 26, 2026. The renovations include a new 90-square-meter Premium Executive Suite with a residence-style design and family twin rooms now equipped with two queen beds. Rooms also feature cocktail recipes highlighting South Korean premium liquor and tea for guests.
Westin Josun Busan completed a three-year renovation of its Grand Ballroom, now able to accommodate up to 500 people with a higher ceiling and improved lighting inspired by the hotel’s architectural elements. The ballroom has direct access to an
outdoor garden, enhancing its suitability for large events and weddings in the Haeundae area.
Choi Hoon-hak, CEO of Chosun Hotel & Resort, said, “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.”
The company’s expansion
aligns with trends in South Korea’s hotel industry favoring asset-light growth and brand expansion to meet recovering inbound tourism demand after COVID-19. The separation of asset ownership and operations through project REITs is an increasingly common method to reduce financial risk and improve profitability. Challenges include maintaining brand positioning and service consistency across a wider portfolio that ranges from luxury hotels like Josun Palace to newly acquired properties, some of which face seasonal demand fluctuations such as Yeosu and Andong.
