Content Writer: Janice Chew • Wednesday, 25/09/2025 - 16:47:39 - PM
In a bold move to expand its hospitality footprint and strengthen its integrated resort appeal, South Korea’s Paradise Co will pay KRW 210 billion (around US $151 million) to acquire the Grand Hyatt Incheon West Tower from KAL Hotel Network. The property is adjacent to the existing Paradise City resort in Incheon, and the deal is expected to close by October 31, 2025. With this acquisition, Paradise will boost its room inventory from 769 to 1,270 units, adding 501 rooms without having to break ground on a new building.
Beyond just room count, the strategic logic is clear: bringing the West Tower under Paradise’s control offers direct synergy with Paradise City’s operations. There has been talk of building a footbridge to connect the two buildings, improving guest flow and strengthening the resort complex’s coherence. Analysts from Hana Securities have also raised their target price for Paradise’s stock, noting that roughly half of the purchase may be financed through debt and that renovations to match Paradise’s standards will be needed.
This expansion aligns with Paradise’s broader ambitions to ride Korea’s tourism resurgence and the government’s push for cultural-tourism growth. Paradise’s representative stated that by increasing the room supply, they can better accommodate overseas visitors and bolster their competitive edge as an integrated resort operator. The company is also unveiling plans for a “Smart Racing Park” — a 60,000 m² augmented reality racetrack where vehicles can reach up to 40 kph — as part of its second-phase development, expected by 2027.
Paradise is riding a wave of improving financials. In August 2025, it reported casino revenues of KRW 80.5 billion (≈ US 57.7 million), up 11.7% year-over-year, signaling renewed momentum in its core operations. The acquisition’s cost is estimated to represent about 5.34% of Paradise’s total consolidated assets (KRW 3.93 trillion as of end-2024). As Paradise pursues its “Value Up” plan — targeting more than 10% annual revenue growth through 2027 — this move could be a pivotal inflection point in repositioning Paradise City as one of East Asia’s more compelling integrated destinations.