TheHyusik announced on the 4th that it has signed a brand agreement with Marriott International for "Series by Marriott."
The brand signing ceremony was held on the 26th of last month at Anook Hotel Incheon Guwol in Namdong-gu, Incheon. Attendees included representatives from TheHyusik, Marriott International, and Koramco Life Infrastructure REIT, which owns Anook Signature Seoul Guro and Anook Hotel Incheon Guwol.
Series by Marriott is a new brand that Marriott International first introduced last year. It is a strategic brand designed to expand the midscale hotel market through collaboration with regional hotel operators with proven track records. TheHyusik becomes the first company in Korea to adopt this brand, marking its full-scale entry into globalizing the domestic midscale hotel market.
Under this agreement, TheHyusik plans to sequentially convert four properties to "Anook Signature, Series by Marriott": Anook Signature Seoul Guro, Anook Hotel Incheon Guwol, Anook Resort & Spa Busan Haeundae, and Anook Signature Gyeonggi Anyang. This marks the first case of an official brand agreement between a global hotel chain and a domestic midscale hotel operator in Korea.
Series by Marriott is linked to Marriott Bonvoy, Marriott's global membership program, providing access to the company's worldwide reservation network. This is expected to increase international guest traffic, raise average daily rates (ADR), and secure a stable demand base. Combined with the recent upward trend in inbound tourists to Korea, additional demand generation through the global network is also anticipated.
"In the Korean hotel market, midscale hotels account for a larger share than 4 to 5-star properties and represent a market with structurally high growth potential," said Kim Jun-ha, CEO of TheHyusik. "By combining with Marriott International's global network, we will elevate our profitability to the next level."