Labor Day in China and Golden Week holidays in Japan... 'Munjeonseongsi' Jeju Dream Tower

Jeju Dream Tower Casino Anticipates Biggest Boom Since Opening
Direct Flights Between Jeju and Beijing Resume After 3 Years... Increase in Chinese VIP Inquiries

"On the 29th of last month, which was the start of China's Labor Day Golden Week holiday, more than 1,300 room reservations were made in a single day. In particular, the number of Chinese visitors increased about tenfold compared to the same period last year."

On the 1st, the reporter personally visited Jeju Dream Tower Complex Resort, which was bustling with a large crowd. This was due to the overlap of Japan's Golden Week and China's Labor Day holiday, causing a sharp increase in foreign tourists.

Jeju Dream Tower 1st floor lobby.
Photo by Jang Hyowon

An official met in the lobby of Jeju Dream Tower Complex Resort explained, "Since the end of March, with the start of 35 weekly Jeju-Shanghai flights, direct flights from China have fully resumed, changing the landscape of Jeju tourism."

According to the Jeju Tourism Association, the number of foreign tourists visiting Jeju has exceeded 100,000 through last month this year. This is a 617% increase compared to about 13,900 visitors during the same period last year.

Jeju Dream Tower Complex Resort, operated under the global luxury hotel brand Grand Hyatt Jeju, is gaining tremendous popularity among foreign tourists. This is because it boasts world-class infrastructure comparable to Macau and Singapore.

All 1,600 rooms are suites, and the 14 food and beverage (F&B) facilities are staffed by global chefs. Additionally, as a complex resort with world-class casino gaming facilities, it provides luxurious services for casino VIPs.

The casino, the core of the Jeju Dream Tower Complex Resort project, is a foreigner-only casino that opened on June 11, 2021. It is the third complex resort casino to open, following Paradise City in Yeongjongdo, Incheon, and Landing Casino in Jeju Shinhwa World.

The gaming floor covers 5,367㎡ (total floor area 15,510㎡) and is equipped with a total of 414 international-standard latest gaming facilities, including 190 slot machines, 145 gaming tables, 71 electronic table games, and 8 ETG master tables.

Lotte Tour Development is fully responsible for the ownership and actual operation of the Dream Tower Casino and the hotel operated as Grand Hyatt Jeju. Utilizing over 30 years of travel industry know-how and a casino operation network across Asia, Lotte Tour Development has independently attracted casino VIPs through overseas operations, such as operating the first-ever VIP charter flights from Japan and Hong Kong since November last year, unlike other domestic foreigner-only casino companies.

Jeju Dream Tower Complex Resort View. / Photo by Lotte Tour Development

Unlike most domestic casinos, which operate on a lease basis and must separately pay comps (expenses for lodging, food, and beverages provided to premium customers), Dream Tower Casino is relatively advantageous in customer attraction and profitability because Lotte Tour Development directly owns the hotel.

In preparation for the full reopening of China, Lotte Tour Development is continuously recruiting casino marketers and junket agents targeting Chinese-speaking customers, as well as hiring additional experts from major domestic casinos.

Especially during the Chinese Labor Day holiday starting on the 28th of last month, a large number of Chinese casino VIPs visited, enjoying the biggest boom since opening.

Starting from the Chinese Labor Day holiday and Japan's Golden Week period through Children's Day, nearly 1,300 rooms were reserved per day at peak times. As of the 1st of this month, an average of 800 to 900 rooms are being reserved daily, with an increase of about 100 to 150 rooms during holidays such as Buddha's Birthday.

With the resumption of direct flights from Beijing, China, starting on the 1st, international flights are expected to increase, leading to more foreign tourists visiting and further growth in room reservations.

Accordingly, the securities industry also evaluated that Lotte Tour Development's travel and casino sectors are showing a clear rebound this year, expecting benefits from the improved business environment due to the reopening. Kiwoom Securities analyzed that a favorable wind is expected from the expansion of Chinese VIP casino customers in the second quarter. The investment opinion was maintained as 'Buy' with a target price of 23,500 KRW.

Researcher Namsoo Lee of Kiwoom Securities stated, "Although Lotte Tour Development's first-quarter performance is expected to remain sluggish, Chinese VIP results are expected to appear from the second quarter. With travel restrictions due to COVID-19 lifted in both Korea and China, Chinese VIP arrivals will begin in earnest from mid-month."

This content was produced with the assistance of AI translation services.