Luxury Hotel Buffets See Consecutive Price Increases Since Early Year

Signiel Busan 'The View' homepage photo.

[Asia Economy Reporter Yuri Kim] Prices for luxury hotel buffets have been rising one after another since the beginning of the year. This reflects increases in raw material costs and other factors.

According to the hotel industry on the 10th, Lotte Hotel Signiel Busan's buffet restaurant "The View" will raise adult lunch and dinner fees by 5,000 KRW each starting next month on the 1st. As a result, weekday lunch will cost 88,000 KRW, and weekday dinner as well as weekend lunch and dinner will be available for 120,000 KRW.

Signiel Busan, which opened in June last year, is raising The View's usage fees for the first time in one year since its opening. The hotel explained, "The adjustment was inevitable due to increases in raw material costs," adding, "We made a slight adjustment to minimize the burden on customers, and breakfast and child rates will be maintained."

Earlier in February, buffet restaurants at luxury hotels known as the "three major hotel buffets in Seoul" raised their prices. Lotte Hotel Seoul's "La Seine" increased weekday lunch fees by 7.1% and weekday dinner and weekend fees by 4.9% in February. The current fees are 105,000 KRW for weekday lunch and 129,000 KRW for dinner and weekends.

Seoul Shilla Hotel's "The Parkview" also raised weekday lunch, weekend lunch, and dinner fees by 5.3%, 5.1%, and 4.9%, respectively, in the same month. The current fees are 119,000 KRW for weekday lunch, 122,000 KRW for weekend lunch, and 129,000 KRW for dinner. Westin Chosun Hotel's "Aria" also raised prices by 4.0% for weekday lunch, 4.9% for weekday dinner, and 4.8% for weekend lunch and dinner, bringing the fees to 105,000 KRW, 128,000 KRW, and 130,000 KRW, respectively.

At the beginning of the year, Grand Chosun Busan Aria, which opened in October last year, raised prices. Weekday lunch increased from 80,000 KRW to 85,000 KRW, weekday dinner from 90,000 KRW to 100,000 KRW, and weekend lunch and dinner from 110,000 KRW to 115,000 KRW, respectively.