Accor to manage new Ibis Hotel in Seoul

Accor is to manage a second Ibis hotel in Seoul, Korea. The new hotel is located in Seoul’s prestigious business and retail district of Myeong-dong, often considered the “Ginza” of Seoul.

The Hotel Ibis Myeong-dong is being developed as part of a US$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 the hotel will offer a restaurant, sauna, gym and meeting/function facilities.

The hotel will feature a contemporary design with advanced communications technology, LCD screens in all rooms, large working desks and 24 hour reception.

The hotel is being developed out of an existing building, the former Seoul Bank building, the first such conversion of an office building in Seoul to a hotel.

The property is being developed by Hanaland, with Tongyang Investment Bank being the Asset Manager. It will be Accor’s fifth hotel in Seoul, joining the Sofitel, two Novotels and the Ibis in Gangnam.

Rates are expected to be in the vicinity of US$100 per night.

Accor Asia Pacific Managing Director, Michael Issenberg, said, “With Myeong-dong being such a prestigious business and shopping district, the hotel’s economy rates will make it popular with business travellers during the week, and leisure travellers during weekends who want a prime location in the city centre at an affordable price.”

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