Amid the success of Accor’s first Hotel Ibis in Seoul, a second
Ibis has been approved for development, this time in Seoul’s most
prestigious business and retail district of Myeong-dong.
The Hotel Ibis Myeong-dong is being developed as part of a $300
million retail and hotel complex and is scheduled for completion in
the second half of 2006. The 280-room hotel will be built above
nine levels of retail outlets, and will offer a restaurant, sauna,
gym and meeting/function facilities.
The property _ with rates expected to be about $100 _ will be
Accor’s fifth hotel in Seoul - joining the Sofitel, two Novotels
and the Ibis in Gangnam.
“The Ibis Myeong-dong will fill a clear market need as there has
been no other international-branded three-star hotel opened in the
city since the previous Ibis, over two years ago,” said Accor Asia
Pacific Managing Director Michael Issenberg.
“With Myeong-dong being such a prestigious business and shopping
district, the hotel’s economy rates will make it popular with
business travelers during the week, and leisure travelers during
weekends who want a prime location in the city center at an