Finance & DevelopmentDevelopmentNew Lexington Hotel to Open in South Korea

New Lexington Hotel to Open in South Korea

CLEVELAND—Vantage Hotels’ Lexington brand continues to grow in South Korea with the addition of a 342-room new-construction project in Gangneung. The property, which is expected to open in December 2017, will be a full-service hotel and carry Vantage’s Value Hotel Worldwide name, by which Lexington Hotels are known in South Korea.

The property in Gangneung is the fifth new build in the country to be introduced by Vantage’s master licensee for South Korea, Service Legend, Inc. A 20-floor, 300-room property in Suwon was the first to open; locations in Seogwipo and Sejong City are scheduled to be completed later this year; and a hotel in Jeju City is set to open in 2017. All of the properties are also managed by Service Legend.

Gangneung is one of the top tourist destinations on the east coast of South Korea. The city is 30 minutes from the airport and will be just an hour away from Seoul when a new train line is completed next year. Gangneung will also host all indoor sports (ice hockey, figure skating, speed skating, and curling) at the 2018 Winter Olympics.

The newest Lexington Hotel/Value Hotel Worldwide will include 15 floors of guestrooms and feature four outdoor swimming pools, a restaurant/buffet, lounge, convenience store, fitness center, meeting rooms and business center. Nearly two-thirds of the rooms will have full ocean views.

“There is such a great need for world-class lodging in many of the major cities of South Korea, and this development clearly meets that need. Joon Park and his team at Service Legend have done a wonderful job of bringing in some impressive new-builds, and it’ll be very exciting when more of the projects come to fruition this year,” said Bill Hanley, the group president of Vantage’s International Division.

The growth in South Korea continues the selective international expansion of the Vantage brands. The company maintains master license agreements for India, Indonesia, and China, as well as strategic representation relationships for the development of its brands in Canada.