[Today's Travel] Jeju Dream Tower Achieves 100 Billion KRW in Q1 Sales 外

Since Opening in 2021, Quarterly Record High
Casino and Hotel Both Rise
Modetour Sends Over 170,000 Overseas Travelers in March

The travel and leisure industry shares new updates as of the 2nd.

Jeju Dream Tower Complex Resort Approaches 100 Billion KRW in Q1 Sales

Jeju Dream Tower Complex Resort
Photo by Lotte Tour Development

Jeju Dream Tower Complex Resort, operated by Lotte Tour Development, announced that it recorded nearly 100 billion KRW in sales in the first quarter of this year, marking an all-time high. According to Lotte Tour Development, last month Jeju Dream Tower Complex Resort (casino and hotel sectors) posted sales of 30.8 billion KRW on a separate basis, achieving 96 billion KRW in sales for the first quarter alone. This represents more than a 2.5-fold increase compared to 38.3 billion KRW in Q1 last year, entering the 90 billion KRW range for the first time since its opening in 2021. Considering the retail sector (Han Collection), which is excluded from disclosures, and the travel business sector, which is tallied at the end of the month, the company expects Q1 sales to exceed 100 billion KRW. Last month, the casino sector (Dream Tower Casino) recorded net sales of 22.1 billion KRW (amount after deducting agent commissions from gross sales). The cumulative Q1 sales reached a record high of 69.9 billion KRW. According to Jeju Tourism Organization, from the end of last month, the number of direct international flights to Jeju increased from 14 to 19, with five additional routes (Dalian, Changsha, Changchun, Harbin, Xi'an in China) scheduled to operate. This is expected to mark the full resumption of group tours from China. Additionally, the Japan direct flight route, currently limited to Osaka-Jeju, is expected to expand to the Tokyo-Jeju route (T'way Air, 7 times weekly) around June. Furthermore, the hotel sector (Grand Hyatt Jeju) also posted sales of 8.75 billion KRW last month, achieving a cumulative Q1 sales of 26 billion KRW, an 18% increase compared to the same period last year.

Modetour Sees 75% YoY Increase in Overseas Travelers Sent in March

Modetour March Overseas Travel Departure Numbers
[Photo by Modetour]

Modetour announced that the number of overseas travelers sent last month (including package tours and airline tickets) reached approximately 172,000, a 75% increase compared to the same period last year. Overseas package reservations totaled 98,840, and airline tickets were 73,250, increasing by 58% and 105% respectively compared to the previous year. The regional distribution was Southeast Asia (57%), Japan (19%), China (10%), South Pacific & Americas (8%), and Europe (5%). Modetour's cumulative overseas travelers sent in Q1 reached approximately 531,000, an 80% increase compared to the same period last year and a 37% increase from the previous quarter. The recovery rate compared to the same period in 2019, before the COVID-19 outbreak, stands at about 73%.