Accor in Seoul

Second Ibis brand hotel approved for upscale district

By: J.L. Erickson

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 affordable price.”