Date of publication: 19/02/2013
Five-star Hotels, especially those in Seoul, earned much more at restaurants, conventions and weddings than by the cost of the room.
On five-star, or super luxurious, hotels over 300 rooms revenue from food and other services amounted to more than twice the earnings of the room rates in 2011, according to data from the financial supervisory Service and statistics-Korea.
As for the 23 super luxurious hotels with 300-plus rooms in Seoul responsible room cost for 29.1 percent of their entire sales, food 29.2 percent and 41.7 percent, other services the importance of weddings and conventions as a source of revenue for hotels.
Major international treaties at the Lotte Hotel largest Crystal Ballroom, for example, can cost more than 100 million won per day, depending on the quality of the food served and the size of the space used.
"We don't make a lot of weddings, but we do a lot of the important international conventions held in Seoul," said Lotte Hotel spokesman Park Min-kyuk.
"Maintenance of restaurants costs much, other than that our buffet restaurant, our restaurants are not really profitable."
Top hotels like Hotel Shilla, Westin Chosun Hotel, InterContinental Hotel, Grand Hyatt Seoul and Sheraton Walkerhill Hotel are among the most popular for weddings, which can cost more than 200,000 won per guest.
The Fair Trade Commission is looking into the five-star hotel wedding halls tie-in sales practices, in which she is the bride and groom pay for expensive flowers, wine and special stage decor.
Super luxurious hotels on the resort island of Jeju, the nation's top spot on the other hand, made of the cost of the room.
Room rates up 52.1 percent of the combined sales of seven five-star hotels with more than 300 rooms on Jeju. 33% Was income from food and the rest of other services.
Nationally, room costs account for 40 percent (2.13 trillion won) of the combined turnover of 569 hotels (5.34 trillion won) in 2011, the data of the FSS is proven. Thanks to the increasing number of foreign tourists remained the part of the cost of the room by 32.3% in 2007 to 38.2% increase in 2009. Income from power supply (31 per cent) and other services such as social functions (29 percent) rose from 60 percent of the hotels combined sales in 2011.
Only about 9.3 percent of hotels in Korea are Super Deluxe hotels, but they percent 63.6 (3.4 trillion won) of the combined turnover of all hotels. In addition to the 23 in Seoul, there are 10 super luxurious hotels in Busan, seven on Jeju, Incheon, three in North Gyeongsang Province in four, two in Daegu and Gangwon Province, and one each in Gwangju and Northern Province of Chungcheong.
Small and medium-sized hotels made more money from the room cost (50.9 percent) in 2011 than other services. The combined turnover of 145 hotels with between 100 and 300 rooms amounted to 1.31 trillion won.
The total number of employees in the hotel and 47.6 percent of them were rural 37,759 was deployed by super luxurious hotels.
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