News

Millennium & Copthorne eyes Seoul expansion

Millennium & Copthorne Hotels (M&C) aims to acquire a plot of land next to a property its owns in the Korean capital of Seoul for £17.23 million.

The land, with a total area of 1,563.7m2, is adjacent to the Millennium Seoul Hilton Hotel which is owned by M&C.

M&C said it will develop detailed plans to build “hospitality facilities” on the site complementary to the Millennium Seoul Hilton.

The deal is being made through wholly-owned subsidiary CDL Hotels (Korea) Limited. It is due to be completed in the second quarter of the year.

M&C chairman Kwek Leng Beng said: “This is an exciting site for us to acquire as it is located immediately adjacent to our Millennium Seoul Hilton Hotel.

“The site has a lot of potential which I foresee will give M&C plenty of synergies and value to our operations in Seoul.”

Share article

View Comments

Jacobs Media is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.