South Korea’s Hotel Shilla, said on Thursday that it will open its 16th Shilla Stay hotel in Jeonju, North Jeolla Province, on December 10.
Shilla Stay is Hotel Shilla's budget hotel brand.
The new hotel, which will be in an 11-story building, will offer 210 rooms under a management contract. Shilla Stay in Jeonju will provide the brand and handle room management.
The property features Cinema Rooms with larger TV screens and a rooftop lounge in traditional Hanok style.
Hotel Shilla posted 1.0162 trillion won ($850 million) in third-quarter sales, up 0.4% from a year earlier, with an operating loss of 17 billion won.
The duty-free division’s widening losses and a 9.6% drop in the hotel and leisure segment contributed to the earnings decline, with revenues at Seoul and Jeju hotels down 3.7% and 4.4%, respectively.
Meanwhile, Shilla Stay’s third-quarter sales rose 9.6% to 59.6 billion won.
In May, Hotel Shilla launched its first leisure-oriented Shilla Stay Plus in Jeju’s Iho Tewoo district and plans to open new locations in Daegu, North Gyeongsang Province, and Sejong.
Write to Sun A Lee at
suna@hankyung.com
