1983 Opening of 'Changwon Tourist Hotel', Popular as a Business and Tourism Hub
[Asia Economy Yeongnam Reporting Headquarters Reporter Lee Sang-hyun] Changwon Hotel, located in the heart of Changwon and operating for 40 years, has been sold. As the tourism industry suffers severe stagnation due to the ongoing COVID-19 pandemic, even prime downtown hotels have changed ownership.
According to the tourism industry on the 11th, Changwon Hotel, located in Jungang-dong, Seongsan-gu, Changwon-si, Gyeongnam, was reportedly sold for 37 billion KRW at the end of last year.
Opened in January 1983 as 'Changwon Tourist Hotel,' Changwon Hotel is the oldest hotel still operating in downtown Changwon and has served as a prime location for business and tourism in Changwon.
The situation worsened with the emergence of low-cost hotels and motels, and to make matters worse, COVID-19 struck. It is reported that the hotel suffered a direct hit, recording an annual deficit of approximately 1 billion KRW over the past two years.
The existing guest room operations will continue until the end of February, and tenants within the hotel have been notified to cease operations following the hotel's sale.
The wedding hall closed last December, and the famous Chinese restaurant 'Mandarin,' which has been in place for 30 years, is also scheduled to operate only until the end of February.
The future operational plans for the hotel have not been disclosed.
The hotel site is located in a central commercial area and can be used for neighborhood living facilities, sales, transportation, exercise, office, and lodging facilities, but residential facilities such as officetels or residential-type lodging facilities cannot be established.
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