Paradise City’s Art Paradiso boutique hotel to reopen on July 15

Paradise City’s Art Paradiso boutique hotel to reopen on July 15

South Korea’s Art Paradiso boutique hotel has been closed for two years.

South Korea.- The Art Paradiso boutique hotel at Paradise City near Incheon International Airport is set to reopen on July 15 after a two-year closure. The hotel closed in July 2020 due to Covid-19 countermeasures.

Paradise City is a joint venture between Paradise Co, an operator of foreigner-only casinos in South Korea, and the Japanese group Sega Sammy Holdings. The integrated resort has a foreigner-only casino, a convention hall and the 711-room Hotel Paradise.

The luxury Art Paradiso hotel has 58 rooms and is known for its stylish design. It offers a variety of dining and entertainment options, including a rooftop bar with views of the city.

Paradise Co recently reported a net profit attributable to shareholders of KRW6.99bn (US$5.3m) for the first quarter of the year. That compares to a KRW4.05bn (US$3.1m) loss in the previous quarter and KRW28.58bn (US$21.7m) loss in the same period of last year.

Sales were KRW191.52bn (US$145.2m), down 0.9 per cent quarter-on-quarter but up 92 per cent in year-on-year terms. According to a separate presentation by the company on Wednesday (May 10), casino sales in the first three months of 2023 increased by 19.7 per cent quarter-on-quarter and 129 per cent year-on-year to just below KRW70.97bn (US$53.8m).

Sales from integrated resort operations declined by 9.4 per cent quarter-on-quarter to just above KRW91.26bn (US$69.2m). The sales doubles year-on-year.

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