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Paradise Co unit to pay US$151mln for West Wing of Grand Hyatt Incheon
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GGRAsia
Paradise Co Ltd, a foreigner-only casino operator in South Korea, says one of its units will pay KRW210.0 billion (US$150.6 million) to acquire the West Wing (pictured) of the Grand Hyatt Incheon hotel, a property near the country’s capital, Seoul.
Grand Hyatt Incheon, run by KAL Hotel Network Ltd, is near the Incheon International Airport, the country’s main air hub.
Grand Hyatt Incheon used to be known as Hyatt Regency Incheon and opened in 2003, with a single wing.
It added the 500-room West Wing in 2014, with the complex being rebranded Grand Hyatt Incheon.
Local media outlets reported that Paradise Co was also considering building a footbridge connecting the Paradise City complex to the West Wing of Grand Hyatt Incheon.
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