Reporter Kim Seo-young) Dignity Group, a hotel operation specialist, has begun the process of selling five luxury hotels located in major domestic marine tourist destinations. Hotels located in Geoje, Yeongdeok, Eulwangri, and other places, including the Dignity Hotel located on Yangyang Naksan Beach, can expect stable operating profits.
According to industry sources on the 20th, five hotels owned by Dignity Group are looking for buyers. The total asking price for these hotels is around 84 billion won. RE/MAX Heritage is in charge of the sale.
Among the five hotels for sale, the one with the highest asking price is 'Dignity Hotel' located in Josan-ri, Yangyang-eup, Yangyang-gun, Gangwon-do. The asking price of Yangyang Dignity Hotel was set at 50 billion won. At 30.52 million won per land area, it was formed lower than the market price of nearby land (40 million won per pyeong). The land area is 1,638 pyeong, and the total floor area is 3,941 pyeong.
The sale conditions for Yangyang Dignity Hotel are a comprehensive business acquisition method including land and building, and management premium. It is located at the southern end of Naksan Beach, so you can see Namdaecheon and the sea at the same time. The hotel has 103 rooms with a floor area of 25 to 50 pyeong, from the 1st basement floor to the 5th floor above ground. While other hotels in the Yangyang area are mostly small, 10 to 12 pyeong, it is composed of medium to large-sized rooms, making it a rarity.
In particular, Yangyang Dignity Hotel is evaluated as having great development potential. Naksan, which was removed from the provincial park in 2020, was designated as a special planning area, and construction activities with a building coverage ratio of 80% or less and a floor area ratio of 1300% or less are now possible. Yangyang Station on the Donghaebukbu Line, which is approximately 1.8km away in a straight line, is scheduled to open in 2027, and accessibility to the metropolitan transportation network is expected to be greatly improved.
The next hotel with the highest price is Geoje 'Stuburn' Hotel. Located at 218-3, Hakdong-ri, Dongbu-myeon, Geoje-si, Gyeongnam, the Stuburn Hotel has a price of 10 billion won. Built in October 2005, the hotel has 57 guest rooms from the 1st basement floor to the 4th floor above ground. The land area is 1,767㎡, and the building area is 591.56㎡. The building-to-land ratio and floor area ratio are 50.35% and 185.73%, respectively.
It is located right in front of Geoje Mongdol Beach, so it has an excellent coastal location and a rooftop pool with a wide view of the ocean, which is considered its strength. In addition to the main hotel, many additional lots (3,274㎡) and buildings can be included in the sale, allowing for a diversified asset structure. The return on investment (ROI) is expected to be 9%.
Thirdly, the price of Yangyang 'Twoway Hotel' is 8 billion won. Located at 122 Yongho-ri, Ganghyeon-myeon, Yangyang-gun, Gangwon-do, the Twoway Hotel has 48 guest rooms on 6 floors above ground and 1 basement floor. The land area is 1,091㎡, and the building area is 465.63㎡. The building-to-land ratio and floor area ratio are 41.85% and 194.55%, respectively. It is adjacent to Yangyang Seorak Beach, a 2-minute walk away. The ROI is 10%.
The fourth property is the 'Yeonhwamun Hotel' in Eulwang-ri. Located at 749 Eulwang-dong, Jung-gu, Incheon Metropolitan City and 5 other lots, Yeonhwamun Hotel consists of 35 guest rooms of 9 types, from the 1st basement floor to the 5th floor above ground. It is a 2-minute walk from Eulwang-ri Beach, and its distinguishing feature is that it combines traditional Hanok design with modern convenience facilities. It is considered an operating asset that can generate stable cash flow, and it is an asset with high mid- to long-term growth potential due to local tourism activation and infrastructure expansion. The ROI is approximately 10%.
Yeongdeok's 'Yeonhwamun Hotel' is also up for sale. Yeonhwamun Hotel, located at 196-2, Bugyeong-ri, Namjeong-myeon, Yeongdeok-gun, Gyeongsangbuk-do, is an 8-story hotel with 20 guest rooms of 4 types. The land area and floor area are 1,085㎡ and 1,978㎡, respectively. The sale price, including 16 guest rooms in 2 pension buildings, was set at 8 billion won. It is a property expected to increase operating income and asset value as it is a key axis of the development of the East Coast tourism belt.
According to market officials, "These hotels each have different regional characteristics and attractions, and each boasts high investment value individually," adding, "The occupancy rate (OCC) and revenue per available room (RevPAR) of 3-4 star hotels in Gangwon-do have also been on the rise again since the first quarter of last year, and concerns about oversupply are being alleviated as the performance of accommodation facility permits begins to decline after 2023."
Original article: The Bell - Korea's leading capital market media | 
