On June 3, ARA Korea signed a sales contract for Conrad Hotel Seoul in Yeouido, Seoul. The acquisition price is KRW 400 billion. It has been only three months since ARA was selected as the preferred bidder in early March. Accordingly, ARA Korea now owns a rare 5-star hotel in Seoul, the first to come onto the market in many years, and it has laid the foundation to acquiring the entire IFC in the future. In particular, ARA Korea will use Japanese capital as investors when it acquired Conrad Seoul. Around the same time that ARA Korea was selected as Conrad Seoul’s preferred bidder, Japanese investors had decided to […]