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Lexington Hotels to Build Property in Gangneung, South KoreaApril 14, 2016
A 342-room new-construction hotel is set to open next December in Gangneung, South Korea. The property will be under Vantage Hotels’ Value Hotel Worldwide brand name, known as Lexington Hotels outside of South Korea.
“There is such a great need for world-class lodging in many of the major cities of South Korea, and this development clearly meets that need,” Bill Hanley, the group president of Vantage’s international division, said in a statement.
The property in Gangneung is the fifth new build in the country to be introduced by Vantage’s master licensee for South Korea, Service Legend. A 20-floor, 300-room property in Suwon was the first to open; locations in Seogwipo and Sejong City are scheduled to be completed later this year; and a hotel in Jeju City is set to open in 2017. All of the properties are also managed by Service Legend.
Gangneung is one of the top tourist destinations on the east coast of South Korea. Bordered by mountains to the west and the Sea of Japan to the east, the city is 30 minutes from the airport and will be just an hour away from Seoul when a new train line is completed next year. Gangneung will also host all indoor sports (ice hockey, figure skating, speed skating & curling) at the 2018 Winter Olympics.
Vantage has more than 1,200 properties in its global portfolio, including those operating under the Americas Best Value Inn, Canadas Best Value Inn, Signature Inn, Jameson Inn, and Country Hearth Inn & Suites brands. The growth in South Korea continues the selective international expansion of the Vantage brands. The company maintains master license agreements for India, Indonesia and China, as well as strategic representation relationships for the development of its brands in Canada.