Paradise Group is set to revolutionize customer experiences by introducing innovative travel products and enhancing its casino offerings, with a strong emphasis on attracting international visitors. The hotel operator revealed its plans on Tuesday, aiming to transcend traditional services and meet the evolving trend where customers increasingly seek unique and diverse experiences.
Embracing integrated resorts and gaming:
Since 1972, Paradise Group has been actively involved in the integrated resort, hotel, gaming, travel, and leisure sectors. This year, the company is poised to advance its growth strategy through the “Beyond No. 1, Paradise Value Up Project,” marking a significant milestone in the hospitality industry.
The group plans to expand its influence among leading tourism companies by focusing on casinos, hotels, and complex resorts, establishing itself as a premier creator of exceptional experiences. This initiative includes a strong push into the luxury hotel market and accelerating its presence in the casino industry.
As The Korea Times reports, Paradise Group has unveiled a strategic plan to target the Chinese market, anticipating a gradual recovery post-COVID-19. The group views this market as a key driver for future sales growth.
The COVID-19 pandemic served as a significant challenge for Paradise Group, with about 85 percent of its revenue coming from its foreigner-only casino business. The pandemic led to a drastic reduction in room occupancy rates, dropping as low as 5 percent. However, the company used this period to reorganize and update its internal systems in preparation for the post-pandemic era.
“Our efforts paid off remarkably last year, as we bounced back stronger than ever,” Paradise Group CEO Choi Jong-hwan stated. The company reported 1.041 trillion won ($749.2 million) in revenue and 188.1 billion in profits, surpassing its pre-pandemic figures.
In September, Paradise Casino Walkerhill will open a new space optimized for high roller games exclusively for VIPs, spanning 383.31 square meters. The group also plans to develop various travel products to attract Chinese tourists and host K-culture events to enhance its offerings.
Major expansion with a new luxury hotel in Seoul:
The expansion includes developing a new luxury hotel in central Seoul. This strategic move is part of the company’s long-term vision to elevate its brand and offer unmatched hospitality experiences.
Slated to open in the Jangchung-dong neighborhood in Jung District by 2028, the new hotel is designed to feature around 200 all-suite rooms spread over 23 floors. During a press conference at Paradise City on Tuesday, Choi shared details about the project, stating that construction is expected to begin in the fourth quarter of this year.
“We expect to raise the bar of luxury hotels in Seoul with high-end services and facilities that are yet to exist in Korea,” said Choi, according to Korea JoongAng Daily. “With the 50 years of know-how we’ve accumulated in the industry, we will launch a symbolic property that exceeds all the five-stars in central Seoul, and come to be known as the number one high-end hotel brand in Korea.”
In addition to the new luxury hotel, Paradise Group has several upcoming projects. These include the opening of a lounge at Gimpo International Airport’s arrival gate by September and the launch of a new brand campaign later this month. These initiatives are part of the company’s broader strategy to enhance its market presence and offer superior hospitality services.
By focusing on innovation and expansion, Paradise Group is well-positioned to set new standards in the hospitality industry and maintain its market leadership. The company’s commitment to excellence and strategic growth initiatives will drive its success in the coming years.
