Jeju Dream Tower Hits Record Quarterly Revenue of 192.6 Billion Won

Jeju Dream Tower, a complex resort, has set a new record for quarterly revenue, reporting 192.6 billion won in the second quarter of this year. This achievement surpasses previous quarterly records, driven by robust performance in both its casino and hotel operations.

In June alone, the resort's two main segments, casino and hotel, generated 64 billion won in revenue, marking a 29.4% increase compared to the same period last year. This continues a trend of strong monthly performance, with revenues consistently exceeding 60 billion won for the past three months. The casino segment's net revenue in June rose by 36.1% year-on-year to 48.7 billion won, accompanied by a 18.7% increase in visitors and a 2.5% rise in table drop.

The hotel segment, operating as Grand Hyatt Jeju, also experienced growth, with June revenue reaching 15.2 billion won, a 12% increase from the previous year. The hotel maintained a high occupancy rate of 90%, selling a total of 43,218 rooms for the month. Notably, foreign guests accounted for 78.2% of hotel stays, and casino patrons occupied an average of 833 rooms daily, representing 52.1% of the total.

Cumulatively, the casino's second-quarter net revenue climbed to 147 billion won, a 33.7% increase from the previous year, surpassing the previous records set in the third and fourth quarters of last year. Visitor numbers for the quarter increased by 23.2% year-on-year to 182,872, with table drop reaching 637.5 billion won. The average hold rate also saw a significant improvement, rising by 4.7 percentage points to 22.1%.

Reflecting on the performance, a Lotte Tour Development representative expressed optimism, stating that with the inclusion of cruise operations in the travel division, both the first half and the full-year results are expected to reach unprecedented highs. The hotel's second-quarter revenue was 45.5 billion won, up 10.7% year-on-year, with an 88.3% occupancy rate across 128,600 rooms sold, 77.3% of which were to foreign guests.