Onda "Seoul Metropolitan Area Hotel Sales in First Half Up 63% Compared to Two Years Ago"

Accommodation Platform 'Onda' Accommodation Industry Trend Analysis
"Tourism Recovery in the First Half and Continued Hokance Trend"

In the first half of this year, the number of foreign tourists visiting Korea increased, and the trend of domestic tourists enjoying 'hokangseu' continued, resulting in a 63% increase in hotel sales in the metropolitan area compared to two years ago.

Royal Suite Room at Signiel Seoul.
[Photo by Hotel Lotte]

On the 21st, Onda analyzed 1,562,000 accommodation bookings made through its platform and found that hotel sales in the metropolitan area, including Seoul, Gyeonggi, and Incheon, increased by 63% compared to two years ago. During the same period, nationwide hotel and resort sales increased by 29.6% and 14.1%, respectively.

Sales of pool villas, classified as luxury accommodations, also rose by 13%. An Onda representative explained, "This reflects the continued preference for private accommodations, which began to gain attention during the pandemic, into the first half of the year."

The increase in hotel and resort sales is attributed to the rise in foreign tourists visiting Korea after the endemic phase. According to Korea Tourism Statistics, 7.7 million tourists visited Korea in the first half of the year. The number of foreign tourists, which was only 3.19 million in 2022 due to COVID-19 travel restrictions, is expected to reach 16 million this year following 11.03 million last year.

Meanwhile, with the government designating October 1st, Armed Forces Day, as a temporary holiday, the travel industry expects an increase in domestic hotel occupancy rates. Early October holidays now total three days, including National Foundation Day (October 3rd) and Hangul Day (October 9th), allowing for a golden holiday period.

A travel industry official said, "While foreign occupancy rates are high in luxury hotels in downtown Seoul, domestic occupancy rates rise during holidays and golden holidays," adding, "Many office workers who find it difficult to take time off immediately after the Chuseok holiday are likely to turn to hokangseu."