Attracting MICE Events Boosts Room and F&B Sales
Seoul Dragon City announced on the 3rd that its total operating profit (GOP) for the first half of this year reached 19.6 billion KRW, a 31.9% increase compared to the same period last year. During the same period, sales increased by 18% to 57.3 billion KRW.
Specifically, hotel room sales increased by 21%. Seoul Dragon City attracted various MICE (Meetings, Incentives, Conferences, and Exhibitions) events including corporate, government, and academic conferences due to the recovery and growth of domestic business. The demand for rooms generated from MICE events is analyzed to have positively influenced the sales increase. Room demand also grew due to the expansion of overseas business. Hosting large incentive groups and K-pop fan meeting groups contributed to the rise in room sales. Additionally, securing foreign airline crew customers laid the foundation for stable sales.
Food and beverage and banquet sales rose by 11.9%. Newly opened venues such as the banquet hall Rendezvous and Chinese fine dining Pay, which opened in 2022, as well as the rooftop dining Cabana City, which was renovated last year, successfully established themselves, leading to an increase in visitors. Seoul Dragon City utilized its abundant banquet facility infrastructure to hold large-scale events such as international conferences, corporate seminars, and new product launches, and the increase in various event-type gatherings such as alumni meetings and contests is analyzed to have contributed to the sales growth.
Park Tae-joo, General Manager of Seoul Dragon City, stated, "Considering the scheduled large-scale events and increasing travel demand, we expect the upward trend to continue in the second half of the year," adding, "We will continue to provide the best customer service and strive to strengthen our business competitiveness."
Meanwhile, Seoul Dragon City is a large-scale hotel complex facility that includes four Accor-affiliated hotels (Grand Mercure, Novotel Suites, Novotel, and Ibis Styles), 12 food and beverage outlets, and 12 convention facilities. Since opening in November 2017, it is approaching its 7th anniversary this year.
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