The bidding for Shilla Stay Dongtan, sold by Mirae Asset Management and the NPS (National Pension Service) will be held on February 21. The 286-room hotel is located at 161 Nojak-ro, Hwaseong-si, Gyeonggi-do,. The first branch of Shilla Stay signed a master lease agreement with Hotel Shilla from the end of October 2013 to the end of 2028, which can be extended for an additional 10 years by mutual agreement. The annual minimum guaranteed rent (MRG) is KRW 3.2 billion. The structure involves paying a high MRG along with revenue-linked rent. Recent performance is known to be strong due to restrictions in supply during the pandemic and subsequent […]