Chosun Hotel & Resort announced plans to open two new hotels in the first half of 2027, one in Seoul’s Jongno district and the other in Yeosu, South Jeolla Province. These properties will mark the company’s 10th and 11th hotels respectively. The Jongno hotel, formerly the 232-room, four-star Orakai Daehakro Hotel completed in 2019, was acquired in June 2026. Brand conversion will start in January 2027 with new signage expected within the first half of the year. The Yeosu property, the 427-room Ramada Plaza by Wyndham Yeosu completed in 2020, was acquired in October 2026 and is the company’s first
entry into South Korea’s Honam region.
Expansion to 14 Hotels by 2030 in South Korea
Chosun Hotel & Resort plans to grow its portfolio to 14 hotels nationwide by 2030. Beyond Jongno and Yeosu, the expansion includes locations such as Incheon Cheongna and Andong in North Gyeongsang Province. The strategy focuses on acquiring existing hotels and converting their brands rather than building new properties, aiming to complete this network of 14 hotels within the next four years.
Consortium with Shinsegae and Asset-Light Strategy
The company formed a consortium with Shinsegae Property Investment Management to acquire hotel assets. This partnership employs a project REITs structure to separate asset ownership from hotel operations, thereby reducing financial burdens
for the operator while securing brand profitability. The approach capitalizes on over 110 years of Chosun Hotel & Resort’s operating experience and leverages acquisition and brand conversion to shorten opening timelines and lower capital investment compared to new builds.
Renovations and Upgrades at Flagship Hotels
At Josun Palace in Seoul’s Gangnam district, auxiliary facility construction will start in December 2026, adding a luxury urban wellness spa, a high-end Japanese restaurant, and a business lounge. These facilities, totaling 1,256 square meters, are scheduled to open in the first half of 2027. Westin Josun Seoul began offering renovated suite rooms on October 26, 2026, introducing a 90-square-meter Premium
Executive Suite with residence-style design. Westin Josun Busan completed a three-year Grand Ballroom renovation, enhancing capacity and integrating a direct connection to the outdoor garden, boosting its suitability for large corporate events and weddings in the Haeundae area.
CEO Statements and Industry Context
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 that the company will continue expanding its portfolio while enhancing customer experience based on its extensive hotel operating experience. The
expansion aligns with a broader trend in South Korea’s hotel industry emphasizing asset-light strategies and brand expansion amid recovering inbound tourism demand. Challenges remain in maintaining brand positioning and service standards across a diversified portfolio that ranges from luxury flagship hotels to newly acquired properties.
