Lotte Tour Development Operated Integrated Resort
Normalization Effect of Overseas Direct Flight Routes
Increase in Foreign Tourists Mainly from Asia
Total Sales of Both Sectors 50.5 Billion KRW in August
Lotte Tour Development announced on the 2nd that Jeju Dream Tower Complex Resort surpassed monthly sales of 50 billion KRW for the first time last month.
In August, the sales of the hotel (separately accounted) and casino sectors of Jeju Dream Tower Complex Resort amounted to 50.549 billion KRW. This figure is a 23.1% increase from the previous record of 41.056 billion KRW in May and marks the first time monthly sales have exceeded 50 billion KRW since its opening in 2021.
A representative from Lotte Tour Development explained, "With the normalization of overseas direct flights to Jeju, there has been a rapid increase in visits from foreign tourists mainly from Asia to Dream Tower," adding, "Last month, the resumption of direct flights on the Tokyo-Jeju route also contributed to the increase in sales by attracting more Japanese tourists."
Due to the impact of COVID-19, overseas direct flights to Jeju were virtually suspended but began to resume from the end of 2022, expanding to more than 195 flights per week as of August this year. Consequently, the cumulative number of foreign visitors this year reached 1.29 million, a 3.3-fold increase compared to 380,000 in the same period last year.
The proportion of foreign guests at Jeju Dream Tower Complex Resort rose from 57.7% in August last year to 71.3% last month. In the foreigner-only casino sector, sales, drop amount (the amount exchanged for chips by casino customers), and the number of users all recorded their highest levels ever.
Last month, the net sales of Dream Tower Casino (total sales minus agent commissions, etc.) reached 33.012 billion KRW, entering the 30 billion KRW range for the first time. During the same period, the drop amount was 159.579 billion KRW, and the number of users was 37,494.
Sales in the hotel sector (Grand Hyatt Jeju) amounted to 17.537 billion KRW, a 23.1% increase compared to 14.252 billion KRW in the same period last year. A total of 40,947 rooms were sold, surpassing 40,000 rooms in a month for the first time. This is the highest monthly sales volume, exceeding the 39,663 rooms recorded in August last year. The average room selling price rose 30.5% from 258,121 KRW last year to 336,789 KRW.
A representative from Lotte Tour Development stated, "We plan to further strengthen global marketing to attract foreign tourists," and added, "With special demand expected due to domestic and international holidays such as China’s National Day in September and October, including in Korea, we anticipate the performance streak to continue."
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