Vantage Hospitality Expands into South Korea
CLEVELAND—Vantage Hospitality Group, Inc., through its wholly owned subsidiary, Van Asia (Korea), Inc., has entered into a master license agreement with Service Legends, Inc., to introduce the Value Inn Worldwide and Value Hotel Worldwide brands to South Korea. READER COMMENTS
The Value Inns and Value Hotels will operate in the upscale and upper midscale segments, according to Bill Hanley, group president of Lexington by Vantage and managing director of international development for Vantage Hospitality. The first properties are expected to open in South Korea in 2013.
According to Joon Park, the CEO of Service Legends and a principal of the master licensee for AHLEI in South Korea, the typical Value Inn will be a 100- to 130-room, select-service property providing Wi-Fi throughout the property, a meeting room, an exercise facility, and complimentary breakfast. Value Hotels will be full-service hotels of 150 rooms or more featuring restaurants, lounges, meeting and conference facilities, and the latest technology.
“Asia is a very important market for Vantage and it makes strategic sense to continue our expansion into South Korea,” said Roger Bloss, founder, president and CEO of Vantage Hospitality Group, in an announcement. “China and India are two of the top industrialized nations of the world, and South Korea is also a major economic power with many major global corporations and a growing base of business and leisure travelers. By offering a tier of American hotels that provide a competitive price point, as well as the amenities and services travelers expect, we feel we can make a strong impact in the Asian market.”