NFT Entering the 'Gukbin Suite'... Hotel Strengthens Collaboration in 'Art Tech'

Lotte Hotel × Artist Go Sang-woo 'NFT Art Project'
Staycation + NFT Artwork Collection + Royal Suite Exhibition Viewing & Lecture Opportunity
Achieved 80% of Initial Sales Target on Opening Day
Andaz Seoul Gangnam Receives Positive Response for NFT Artwork Exhibition and Sales
"Endemic Era, but Full Return to Normal Life Requires Time"
Art Tech Gains Attention as a Differentiation Point for Domestic Staycation Customers

Lotte Hotel Seoul Executive Tower Royal Suite Room features artwork by artist Go Sang-woo on display.

The 32nd floor of Lotte Hotel Seoul Executive Tower. The 463㎡ (140-pyeong) Royal Suite, a symbolic space usually reserved for VVIPs such as state guests, has been transformed into an exhibition space illuminated by blue lights. Throughout the living room and study, original works by artist Go Sang-woo, famous for his "Blue Photography," featuring portraits of endangered animals such as deer, bears, and lions, were displayed, harmonizing with the skyline view of the high-rise buildings outside the window. In the bedroom, Go’s non-fungible token (NFT) video artwork was showcased on LG Electronics’ top-tier TV. Go said, "I was captivated by the tradition and history of the Lotte Hotel Seoul Royal Suite, which led me to participate in this project. I was also intrigued by the concept of holding an exhibition in a space usually closed to the general public."

The hotel industry is riding the wave of 'Art-Tech' (art + investment), including NFTs. According to the hotel industry on the 30th, many hotels such as Lotte Hotel, Andaz, Glad, and Kensington Hotel have recently started exhibiting NFT artworks and developing related products. The goal is to project a youthful and artistic image onto the hotels and attract customer visits by differentiating themselves from other hotels.

Lotte Hotel opened the doors of the Royal Suite at Lotte Hotel Seoul for the first time with the purpose of exhibiting art. Targeting the MZ generation (Millennials + Generation Z), they enabled guests to own Go Sang-woo’s NFT artworks during their stay and provided opportunities to view the exhibition and attend lectures in a space that is usually difficult to access. Although the package costs around 1 million KRW, it attracted attention by achieving 80% of its initial sales target on the opening day, the 7th. The lecture by Kim Mi-kyung, CEO of MKYU, held the day before in the Royal Suite, was also successfully conducted with attendees selected by lottery, who actively asked questions, according to the hotel.

Lotte Hotel Seoul Executive Tower Royal Suite Room features artwork by artist Go Sang-woo on display.

Earlier in April, Andaz Seoul Gangnam, part of the Hyatt chain, also attracted significant attention with its NFT art gallery project "Enter X: Mong Environment," which integrated NFT artworks into the hotel. The artworks were displayed and sold through the hotel lobby and swimming pool LED screens, achieving high sales rates mainly among the 20s and 30s age group. Glad Hotel will also offer a "Glad Membership NFT Edition" as a gift to customers who purchase memberships starting from the 1st of next month. Kensington Hotel is planning a product that gives NFTs as gifts when purchasing NFT packages.

According to major hotels in Seoul, the proportion of foreign customers, which had remained around 10% until last year, has recently recovered to about 40% in the endemic era (periodic outbreaks of infectious diseases). However, it has not yet returned to pre-COVID-19 levels. Domestic hotel staycation customers still dominate on weekends and other times. This is why the domestic hotel industry is eagerly embracing Art-Tech, led by NFTs. With growing interest in investment among the MZ generation, the main customers for staycations, Art-Tech is seen as a differentiated point that aligns well with hotels in terms of cultural enjoyment.

An industry insider said, "At a time when full daily life recovery requires more time, offering NFTs that guests can enjoy as future assets while having a staycation meets both parties’ needs. Such attempts by hotels will continue even in the endemic era."