The MZ generation (Millennials + Z, born 1981?2010) is emerging as a new consumer group, leading to changes in consumption trends.
According to industry sources, the MZ generation exhibits a complex consumption tendency, oscillating between 'flex' (meaning to show off) and 'cost-effectiveness.' When choosing daily necessities, they carefully consider whether the price is reasonable and if the purchase is rational. However, if the product aligns with their values and lifestyle, offers unique experiences, or allows them to showcase their social and economic identity, they boldly open their wallets regardless of the cost.
In fact, according to the 'Global Luxury Industry Research Report' released by global consulting firm Bain & Company in April last year, the main consumers in the luxury market are those born between 1980 and 1995, contributing 35% to the global luxury market. The report predicts that the MZ generation's sales contribution will expand to over 60% of the total by 2025.
Recently, the proportion of MZ generation customers among all guests at premium domestic hotels has reached half. Due to COVID-19, they choose places with luxurious interior designs and community facilities typically found in overseas hotels as substitutes for international travel.
An industry expert stated, “In the lodging industry, as the MZ generation’s tendency to enjoy unique experiences is reflected, investment demand is focusing on luxury hotels or residential lodging facilities that can captivate them.”
Meanwhile, The Ocean 259 PFV Co., Ltd. is nearing a complete sell-out of the premium residential lodging facility ‘Shilla Monogram Gangneung,’ currently being sold in the Songjeong-dong area of Gangneung City, Gangwon Province.
Shilla Monogram Gangneung boasts the largest total floor area in Gangwon Province at 146,266㎡. It consists of three buildings from one basement floor to 21 floors above ground, with 783 residential lodging units and over 300 hotel rooms planned.
The A1 type (exclusive area 39㎡, 408 units), which supplies the most units among the residential lodging facilities, features a simple design with a natural mood, offering ocean view terraces and comfortable dining spaces. It also allows sea views from the bathroom, and when using the daybed, it can accommodate up to four guests. The B1 type (exclusive area 101㎡, 34 units) is a suite room with a modern and restrained design, equipped with a jacuzzi on the terrace, allowing guests to relax and enjoy the endlessly panoramic ocean view. The standalone villas, offering complete rest in nature, consist of 4 units with an exclusive area of 286㎡ and 5 units with 253㎡, totaling 9 units.
The signature facility within the complex is the poolside bar designed with a forest pool and beach club concept, located closest to the sea and facing a pine forest. Additionally, there is a spa featuring a hydrotherapy pool for enjoying water therapy inspired by the French Mediterranean region and an infinity edge pool for healing in warm water. Other facilities include an art gallery lounge, private party rooms, private wine cellar, private theater, and a space for screen golf, providing various amenities available year-round.
This facility is entrusted to be operated by Shilla HM Co., Ltd., a specialized subsidiary of Hotel Shilla, a leading domestic hotel brand with extensive room operation expertise, and applies the premium lifestyle brand ‘Shilla Monogram.’
The residential lodging facility is divided into income-generating and managed types, with all buyers receiving top-tier benefits from Shilla Rewards. For income-generating units, the contract holder can use the facility free of charge for 30 days a year at their preferred time through advance reservation (management fees are charged separately), and for the remaining 11 months, profits are distributed according to shares through entrusted operation. For managed units, free use is available throughout the year.
Meanwhile, Shilla Monogram Gangneung is currently operating a promotional center.
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