Finance & DevelopmentLexington by Vantage Announces South Korean Construction Projects

Lexington by Vantage Announces South Korean Construction Projects

CLEVELAND—Vantage Hospitality Group’s Lexington by Vantage brand continues to grow in South Korea with the announcement of new construction projects in Seogwipo and Jeju City on the island province of Jeju. Both properties are full-service hotels in the mid to upper mid-tier segments, and will carry Vantage’s Value Hotel WorldwideSM brand, as Lexington Hotels are known in South Korea.

Vantage Hospitality, a top 10 hotel company worldwide with over 1,200 properties, entered into a master license agreement with Service Legend Inc. in 2012 to introduce the Value Inn Worldwide and Value Hotel Worldwide brands to South Korea. The first Value Hotel Worldwide, a 20-floor, 300-room property in Suwon, opened in November 2013, while a 307-room project in Sejong City is expected to be completed in 2016. All four of the Lexington Hotels in South Korea also are managed by Service Legend.

Located off the southern coast of South Korea, Jeju Island is a popular vacation spot for domestic Korean tourists and visitors from other Northeast Asia locales, as it is a short flight from Seoul, Tokyo, Beijing, Shanghai, Taipei, Shenyang, and Tianjin.

The 225-room Value Hotel Worldwide in Seogwipo, which is expected to open this December, will provide a full-service experience for both leisure and business travelers. It will include nine floors of guestrooms and suites, and feature an indoor swimming pool, spa, fitness center, restaurant, café, and banquet facilities.

The 357-room property in Jeju City, which is scheduled to open in late 2016, will include 18 floors of guestrooms and feature a fitness center, sauna, restaurant, café, banquet hall, and sky lounge. The city is the capital of Jeju Island and is located just seven minutes from the airport and within walking distance of dining and shopping.

“Jeju Island is one of the most popular leisure destinations in Asia, so we are very pleased that the continued development of our Lexington brand will take place there,” said Bill Hanley, Vantage’s Group president of international development. “Jeju is also the most wanted M.I.C.E. (meetings, incentives, conferences, & exhibitions) destination in South Korea, so these multi-purpose hotels will also appeal to that crucial segment,” he said.

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