[Luxury World] "Once over 60, even billionaires feel a bit..." Hotel Memberships with One-Year Waiting Lists Packed Tight

Thousands to Hundreds of Millions Won Memberships 'In Short Supply'
Premium Transactions Occur on Membership Exchanges
Convenient Services, Many Customers for Social Purposes

Hotel fitness membership prices are soaring to unprecedented heights.

While the number of members a hotel can accommodate is limited, the waiting list for those wanting to purchase memberships is growing longer and longer. Even billionaires cannot gain free pass access.

According to the hotel industry on the 8th, it takes up to more than a year to register for a hotel fitness membership due to demand exceeding supply.

Hotel fitness membership prices range from tens of millions of won to over a hundred million won. Mainly wealthy individuals such as famous celebrities, politicians, and businesspeople and their families are on the customer list, so hotels treat them as VIC (Very Important Customer)-level guests.

Hotel fitness membership prices are soaring to unprecedented heights. This is because the number of members a hotel can accommodate is limited, while the waiting list of people wanting to purchase memberships is growing longer. The photo is not directly related to the article. [Image source=Getty Images]

Being able to afford the membership fee and annual dues does not guarantee becoming a new member. Hotels say, "There are no set qualifications for registration," but a strict process must be followed.

After applying for membership, applicants must go through interviews with hotel officials and submit a photo along with comprehensive health checkup results after applying.

There is also an age limit. Generally, it is difficult for new members aged 60 or older to join. If a person started using the membership at age 56, it is not an issue, but joining at 60 is difficult. A hotel industry official said, "Although there are no formal rules, if customers who do not fit the hotel's image come, the hotel manages them internally."

There is another way to buy memberships: using membership exchanges. If you cannot wait for the hotel to contact you, you can buy from the exchange by paying a premium.

However, additional costs such as acquisition tax (2.2%), brokerage fees, and name transfer fees are separately charged, and prices vary widely. According to Ace Membership Exchange, as of the 5th, the Banyan Tree membership for individual male members was the most expensive at about 100 million won including annual fees. Couple memberships reached 140 million won.

Also, Shilla Hotel (individual male basis) was 44 million won, Chosun Hotel 28 million won, Hyatt Hotel 60 million won, Grand InterContinental 73 million won, and InterContinental Seoul COEX 93 million won.

Hotel fitness club memberships are popular because retirees can manage their health and leisure time all at once at the hotel. Most members are wealthy and capable, so there is also demand for social purposes. The food and beverage and room discount benefits provided by the hotel to members who pay tens of millions of won in annual fees are not the sole reason for maintaining memberships.

There are traditional strong players in the membership market. An industry insider said, "'Shilla' and 'Hyatt (Olympus)' are not places with the latest facilities but have been consistently popular since the past," adding, "Young customers have high demand for Banyan Tree memberships."

Recently, memberships in high demand are at Grand InterContinental (Metropolitan Fitness Club) and InterContinental Seoul COEX (Cosmopolitan Fitness Club) in the Gangnam area. Although the InterContinental Seoul COEX location is more expensive, both places are reportedly experiencing membership shortages. Especially, Grand InterContinental is scheduled for a full renovation until June 30, with a large golf practice range to be added, attracting many inquiries from individual customers nearby.