Jeju Dream Tower Integrated resort is a Korean-Chinese joint venture among world no. 1 construction company, China State Construction Engineering Corporation (CSCES), China’s largest real estate developer Greenland Group and Lotte Tour Development Company Limited, one of Korea’s major travel agency. The American Hyatt Hotels Corporation has also joined hands as hotel operator. It will be responsible for the hotel operations handling around 1600 rooms of 38 stories building making it the world second largest Hyatt Hotel along with 11 restaurants and bars.
Jeju Dream Tower is a world class resort, estimated to be completed by September, 2019, has a dedicated second floor with a direct access to foreigners only casino covering an area of 9120 m2. The casino will contain about 80 international game tables, 18 high limit tables, 16 premium/VIP tables and 76 mass tables of 190 tables in total. It will also contain 242 slot machines and 178 electronic games for its customers. The slot machines are placed in ‘Carnival Manner’,because of their interactive and energetic experience for the visitors, based on Maccau’s success in China.
The resort will be able to enjoy a huge influx of Jeju International Airport, located 3km from the resort which reportedly handled 26,237,562 passenger volume in 2015 and Jeju International Cruise Terminal, located 7km from the resort that handles 6% of the total volume of the tourists. It is also close to Shanghai, which is economic and financial hub of China which will probably result in attracting Chinese tourist.
Lotte Tour Development revealed that Hyatt Hotel Corporation is selected due to its capability of attracting Chinese tourists, which are the primary market target for Jeju Dream Tower. Mr. Ki-byung Kim, chairman of Lotte Tour Development said: “With the solid partnership that has been formed between the Greenland Group, China’s largest property developer and co-developer of this project, China State Construction Engineering Corporation (CSCEC), world’s largest construction company and main contractor who provided an unconditional complete guarantee, and Grand Hyatt as hotel operator, Jeju Dream Tower Integrated Resort is expected to become a major tourist destination on Jeju Island. It will also create 3,000 jobs including hoteliers and casino dealers, and contributes tens of billions of Korea won to Jeju Tourism Promotion Fund every year.”
