The Grand Hyatt Incheon at Paradise City is expected to hold a soft opening in March of 2026 and be fully ramped up by Golden Week in May.
Paradise had announced its acquisition of the Grand Hyatt Incheon West Tower in September for KRW210 billion ($151 million), expecting to close the deal by October 31st. However, the acquisition was delayed until December 19th to align with a revised progress schedule on pre-closing requirements.
According to a report by Hanwha Investment & Securities, the Hyatt’s soft opening will begin operations on March 8th of next year, as the operation contract for the property expires on March 1st. After the soft opening, Paradise will operate the hotel directly.
Hanwha analyst Park Su-young indicated that the opening will allow for an expansion of comping, ease criteria for comps and drive solid growth in casino drop as well as revenue.
Paradise had previously indicated that the acquisition was intended to strengthen its competitiveness as an integrated resort operator and to expand demand from overseas tourists, thereby securing a foundation for sustainable growth.
Paradise Co. is the number one operator of foreigner-only casinos by market share in South Kore, with the majority of its casino sales coming from Paradise City.
Paradise City operates 178 tables (131 baccarat, 18 blackjack and 29 others) and 332 slots at its 8,727 square meter casino. Japanese VIP play is the main contributor in regards to casino drop. After the Hyatt acquisition, Paradise City will operate 1,270 hotel rooms.
