Greetings from SPI editor Koh Byung-ki. The hotel market in Seoul has been heating up since the beginning of the year. Voco Seoul Myeongdong, which attracted attention as the first hotel bidding of the year, saw fierce competition with participation from global asset management firms such as Blackstone, CapitaLand, and ARA, as well as six domestic asset management firms including IGIS Asset Management, Pebblestone Asset Management, and SI Asset Management, among which CapitaLand was selected as the preferred bidder. The high price proposed by CapitaLand is in the upper KRW 360 billion range, or approximately KRW 600 million per room. There has been renewed interest in the Seoul […]