‘Ramada Mungyeong Saejae Hotel’ Eases Accommodation Shortage in Mungyeong

Mungyeong, Visited by 5 Million Annually, Welcomes Largest Hotel... Spotlight on Railway and Urban Development Boosts

A residence hotel of the largest scale in Baekdudaegan is opening in Mungyeong, Gyeongbuk, which attracts 5 million tourists annually.

Mungyeong City is a key tourist destination in the Gyeongbuk region, with an average of 5 million visitors per year and 2.49 million visitors to Mungyeong Saejae alone (as of 2021). However, there has been a severe shortage of hotel-grade accommodations to meet this demand. Most lodging facilities are motels and pensions, which are currently covering this demand. With the opening of the KTX-Eum in 2024, travel from Seoul and other metropolitan areas will be possible within 1 hour and 30 minutes, and as tourists flood in from all over the country, the shortage of accommodations is expected to worsen.

Amid this, attention is focused on the 'Ramada Mungyeong Saejae Hotel,' which Ramada Development is building with an investment of over 70 billion KRW. Following the initial 71 rooms in phase 1, phases 2 and 3 combined will bring the total number of rooms to over 240 (planned), making it the residence hotel with the largest number of rooms in the Baekdudaegan area.

Located at the entrance of the Mungyeong Saejae tourist complex, it offers not only excellent scenery but also outstanding accessibility to the provincial park, drama open set, and Mungyeong General Hot Springs. It is rated as having the best location, being 9 minutes by car from Mungyeong Saejae IC and 7 minutes from the bus terminal.

In particular, it is expected to benefit directly and indirectly from the Mungyeong Station area urban development project, scheduled for completion in 2023. The project will develop a complex area of 357,000㎡ around Mungyeong Station, including residential, commercial, and industrial land, and the Ramada Hotel is just about a 10-minute drive from Mungyeong Station. The stable tourist base, attractive location, transportation, and urban development prospects are reasons why the Ramada Mungyeong Saejae Hotel is attracting attention.

Not only modern and luxurious rooms but also the introduction of an advanced system (KT AI Hotel) that enables room control and check-in through cutting-edge AI voice recognition is noteworthy, being the 13th nationwide and the 2nd in the Yeongnam region to adopt this technology. Plans include various ancillary facilities such as a large banquet hall accommodating 500 people, a medium banquet hall for 300 people, and a PET Care System.

The Ramada Mungyeong Saejae Hotel guarantees a stable annual return of 7.5% and is expected to be recognized as a premium investment vehicle. Payments are guaranteed for 5 years, with dividends prepaid for 5 years.

Previously, in 2019, Ramada Development signed an MOU with Gyeongsangbuk-do and Mungyeong City for hotel investment attraction, being the only lodging facility within the provincial park to do so.

Currently, the Ramada Mungyeong Saejae Hotel is offering special sales on a first-come, first-served basis.