Paradise SegaSammy Inc, a subsidiary of South Korea-based Paradise Co., Limited (“Paradise”), will be acquiring 501-key Grand Hyatt Incheon West Tower from KAL Hotel Network, a subsidiary of South Korea-based Hanjin Group, for KRW210 billion. The land will remain under the ownership of South Korea-based Incheon International Airport Corporation. This translates to approximately KRW419 million per key and accounts for about 5.3% of Paradise’s consolidated total assets, which stood at KRW3.93 trillion as of December 2024. Originally opened in 2003 as the Hyatt Regency Incheon, the hotel was rebranded as Grand Hyatt Incheon in 2014 following the addition of the West Tower. Located just minutes from Incheon International Airport Terminal 1, the Grand Hyatt Incheon West Tower offers two restaurants and bars, nine meeting spaces, a fitness centre, a swimming pool, sauna facilities, and a club lounge. The property is also just located adjacent to the 711-key Paradise City casino resort, a jo…
