Hotel, Casino, and Retail Sectors Reach 52.1 Billion KRW... Double Growth Compared to Last Year
"Impact of Social Distancing and Operating Hours Restrictions Lifted, Resumption of Jeju Visa-Free Entry System"
[Asia Economy Reporter Yuri Kim] Jeju Dream Tower Complex Resort achieved its highest quarterly performance since opening, fueled by the reopening momentum.
Lotte Tour Development announced on the 4th that Jeju Dream Tower Complex Resort recorded sales of 52.1 billion KRW in the second quarter of this year across three sectors: hotel, casino, and retail. Compared to 26.5 billion KRW in the second quarter of last year, when the COVID shock was at its peak, this represents nearly double the growth. It is the highest quarterly performance since its opening in December 2020.
Lotte Tour Development stated, "Following the lifting of social distancing and operating hour restrictions in April and the resumption of Jeju visa-free entry in June, which reopened direct overseas flights, a clear upward trend in sales has been seen across all sectors." Total sales, which were 14.8 billion KRW in April, improved to 17.7 billion KRW in May and further to 19.6 billion KRW in June despite the rainy season low season.
The biggest factor was achieving the highest quarterly performance in both rooms (22.4 billion KRW) and food and beverage (11.6 billion KRW) after the reopening atmosphere spread. In the casino sector, since the resumption of the Jeju-Singapore direct flight route on the 15th of last month, about 100 VIP customers from Singapore visited the foreigner-only Dream Tower Casino, boosting sales from 4.8 billion KRW the previous month to 7 billion KRW.
Dream Tower Casino said, "A large-scale visit by Singapore VIP customers is also expected this month," adding, "On the 2nd, VIP customers from the Philippines who arrived in Jeju by private jet began a 3-night, 4-day casino tourism stay at Dream Tower, demonstrating the full effect of the reopening."
Lawrence Teo, Chief Operating Officer (COO) of Dream Tower Casino, said, "With overseas air routes opening and tourists from Singapore and Southeast Asia visiting Jeju, casino performance is rebounding," and added, "If tourists from Taiwan and Japan can also visit during the summer peak season, we can expect remarkable results."
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