Grand Hyatt Incheon – Seoul, South Korea
Office: Horwath HTL Singapore
Category: Hotel Planning & Development – Feasibility Study
Project Overview: Horwath HTL was engaged by KAL Hotel Network to conduct a market study to provide development recommendations and projections for a proposed hotel adjacent to the Incheon International Airport. Upon completion, the hotel is envisioned to comprise 522 rooms, Food & Beverage outlets and conference facilities.
Horwath HTL Solution: Horwath HTL Singapore provided a full Market Analysis and Hotel Feasibility Study to determine if the proposed hotel is viable and economically feasible for the market. Horwath HTL was later also engaged for the Hotel’s expansion project. After evaluating the current market condition and the competitive set, our team prepared an in-depth analysis of the proposed project that highlighted new opportunities as well as provided facilities recommendations and detailed financial feasibility.
Implementation: Subsequent to our study, the Hotel initially opened as the Hyatt Regency Incheon in September 2003 with 522 rooms. A new wing was built in September 2014 along with upgrading to Grand Hyatt branding. The expansion brings its total number of rooms to 1,022 rooms, making it the largest Hyatt property outside North America. The expansion also improved the quality of the hotel’s facilities including: a new 1,270-square metre Grand Ballroom, three swimming pools and four restaurants.