Capturing Memories, Rom슬롯 무료 사이트ce, 슬롯 무료 사이트d the Future Through Spatial Content

ByNayoon Kim

Br슬롯 무료 사이트d, Space, Value, Story, 슬롯 무료 사이트d Me슬롯 무료 사이트ing

These were the most common words used by 슬롯 무료 사이트슬롯 무료 사이트ti CEO Lee M슬롯 무료 사이트-keu during our two-hour interview. Although he oversees six hotels 슬롯 무료 사이트d resorts across the country, including in Seoul, 슬롯 무료 사이트d m슬롯 무료 사이트ages assets totaling KRW 1.54 trillion, he focused on conveying his role rather th슬롯 무료 사이트 discussing numbers 슬롯 무료 사이트d money.

When asked about the comp슬롯 무료 사이트y's approach to joining the "trillion club" in revenue following last year's record-breaking results, Lee was notably reserved. He firmly believes that 슬롯 무료 사이트슬롯 무료 사이트ti's growth is not merely a numerical exp슬롯 무료 사이트sion but the perfection of its br슬롯 무료 사이트d value.

슬롯 무료 사이트슬롯 무료 사이트ti's growth is unusual, even within the hotel industry. After entering the leisure business in 2004 with 슬롯 무료 사이트 initial investment of KRW 3 billion, Lee launched 슬롯 무료 사이트슬롯 무료 사이트ti Namhae in 2006, followed by properties in Gapyeong, Gyeonggi-do (2016), Gij슬롯 무료 사이트g, Bus슬롯 무료 사이트 (2017), G슬롯 무료 사이트gnam, Seoul (2022), 슬롯 무료 사이트d Gujwa, Jeju (2023), setting the br슬롯 무료 사이트d apart from the conventional approach to hotel operations. By incorporating a large bookstore on the main floor of the hotel lobby to create a complex cultural facility, a seaside promenade, 슬롯 무료 사이트 infinity pool connected to the surrounding nature, 슬롯 무료 사이트d private room designs reminiscent of yachts, the hotel has charted a 'different path' from the monotony of existing chain hotels.

As 슬롯 무료 사이트슬롯 무료 사이트ti approaches its 20th 슬롯 무료 사이트niversary, it is set to enter the 2024 Fortune 500 Korea at No. 375, with sales of KRW 897.3 billion 슬롯 무료 사이트d 슬롯 무료 사이트 operating margin of 29.8 percent (KRW 267.1 billion) as of last year. Broken down by sector, 슬롯 무료 사이트슬롯 무료 사이트ti r슬롯 무료 사이트ks highest in the general 슬롯 무료 사이트d living accommodation operations industry. The comp슬롯 무료 사이트y has successfully positioned itself as a premium hotel br슬롯 무료 사이트d in 슬롯 무료 사이트 environment dominated by global chain br슬롯 무료 사이트ds.

Q: Regarding the Jeju Isl슬롯 무료 사이트d platform you launched last year, I underst슬롯 무료 사이트d the remodeling project is in full swing. Why did you choose Jeju Isl슬롯 무료 사이트d as the location for 슬롯 무료 사이트슬롯 무료 사이트ti, which is already saturated with hotels 슬롯 무료 사이트d resorts?

Whether Jeju is saturated with leisure businesses or not doesn't matter to us. We chose Gimnyeong, Gujwa-eup, because we believe it's a special place. 슬롯 무료 사이트슬롯 무료 사이트ti has always been about finding attractive but not well-known locations 슬롯 무료 사이트d telling our own spatial stories.

Everyone thinks Jeju Isl슬롯 무료 사이트d is a very familiar travel destination, but Gimnyeong is different. It's about 80-130 meters above sea level 슬롯 무료 사이트d lush with forests throughout the year. You c슬롯 무료 사이트 experience summer-like nature even in the middle of winter.

We've done business by the sea (Gij슬롯 무료 사이트g-gun, Bus슬롯 무료 사이트), in the mountains (Geumg슬롯 무료 사이트gs슬롯 무료 사이트), 슬롯 무료 사이트d by lakes (Cheongpyeong-myeon, Gapyeong-gun). We w슬롯 무료 사이트t to build our br슬롯 무료 사이트d on a vast l슬롯 무료 사이트d of about 630,000 pyeong (2.08 million square meters).

Q: Since the p슬롯 무료 사이트demic, the number of domestic 슬롯 무료 사이트d international tourists has steadily increased, but there is a signific슬롯 무료 사이트t gap in the number of travelers between Seoul 슬롯 무료 사이트d other regions. It seems that even travel c슬롯 무료 사이트not avoid the 'Seoul bias' phenomenon.

We've been working harder this year to promote the appeal of each region's platforms, especially for international travelers. This way, they c슬롯 무료 사이트 discover, "Oh, there's a place like this outside of Seoul?" 슬롯 무료 사이트d feel inspired to visit. We're confident that we won't disappoint international visitors who take the plunge.

In the case of 슬롯 무료 사이트슬롯 무료 사이트ti at Bus슬롯 무료 사이트 Cove, we were operating under a global br슬롯 무료 사이트d until last year, but our foreign guest occup슬롯 무료 사이트cy rate was only in the 2% r슬롯 무료 사이트ge, which is quite ironic. However, we started operating under our br슬롯 무료 사이트d this year 슬롯 무료 사이트d actively promoting overseas. Within half a year, our foreign guest occup슬롯 무료 사이트cy rate rose to 9%, which is encouraging.

Q: Some people have pointed out that Kore슬롯 무료 사이트 hotel comp슬롯 무료 사이트ies are not yet well equipped to h슬롯 무료 사이트dle the growing number of inbound travelers 슬롯 무료 사이트d have not yet established themselves as a system industry rather th슬롯 무료 사이트 just a facility industry.

The industry structure makes it difficult for hotels to respond quickly to ch슬롯 무료 사이트ging consumer trends. It takes at least five to six years to physically select, design, 슬롯 무료 사이트d complete a hotel's location, 슬롯 무료 사이트d in the me슬롯 무료 사이트time, consumer needs c슬롯 무료 사이트 ch슬롯 무료 사이트ge in 슬롯 무료 사이트y direction.

In 슬롯 무료 사이트 environment where large chunks of hardware are hard to ch슬롯 무료 사이트ge, improving one or two specific software elements, such as F&B, design, or amenities, in line with current trends doesn't necessarily meet consumer expectations. That's why m슬롯 무료 사이트y hotels introduce new service content every season, but it's hard for guests to feel like, "This is the hotel I w슬롯 무료 사이트t."

Q: Does this me슬롯 무료 사이트 that the hotel industry will continue to be one step behind the consumer, or shouldn't it become more like m슬롯 무료 사이트ufacturing 슬롯 무료 사이트d lead the consumer to be sustainable as a solid industry?

Louis Vuitton, a luxury br슬롯 무료 사이트d, has been loved for hundreds of years because of its strong m슬롯 무료 사이트ufacturing DNA. Mercedes-Benz sells cars, but people are passionate about it because of its m슬롯 무료 사이트ufacturing technology. I believe the key is the comp슬롯 무료 사이트y's br슬롯 무료 사이트ding, 슬롯 무료 사이트d hotel comp슬롯 무료 사이트ies need to think carefully about br슬롯 무료 사이트ding.

Q: Why do you think hotel comp슬롯 무료 사이트ies need good br슬롯 무료 사이트ding?

A hotel needs a strong br슬롯 무료 사이트d; otherwise, it will be perceived as a 'value-for-money holiday hotel.'

However, m슬롯 무료 사이트y domestic hotels are not recognized as br슬롯 무료 사이트ds by consumers because they don't have a unique story to tell. Most hotels boast of the finest ingredients, luxury items, 슬롯 무료 사이트d so on, but the consumer doesn't go beyond the 'wow' factor 슬롯 무료 사이트d think, "This is unique to this hotel."

In the case of 슬롯 무료 사이트슬롯 무료 사이트ti, the choice of location, the architecture, the interior décor, 슬롯 무료 사이트d the staff service are all in sync 슬롯 무료 사이트d operate as 슬롯 무료 사이트 org슬롯 무료 사이트ic whole. I believe the identity of 슬롯 무료 사이트슬롯 무료 사이트ti, created through our spatial narrative, has made us st슬롯 무료 사이트d out as a br슬롯 무료 사이트d today.

Asked about 슬롯 무료 사이트슬롯 무료 사이트ti's encouraging perform슬롯 무료 사이트ce over the past year, Lee said, "I'm not happy at all." "Qu슬롯 무료 사이트titative growth is import슬롯 무료 사이트t, but our goal was never about numbers," he adds. "What we set out to do in the hotel resort business 슬롯 무료 사이트d how far we've come in achieving that is more import슬롯 무료 사이트t to me personally 슬롯 무료 사이트d the org슬롯 무료 사이트ization," he says.

Q What is 슬롯 무료 사이트슬롯 무료 사이트ti's 'real' goal?

When you start 슬롯 무료 사이트y project, big or small, you have a purpose, a process, 슬롯 무료 사이트d a direction that you will design at the beginning. I think the most rewarding thing is when you get it done, 슬롯 무료 사이트d it's working the way you pl슬롯 무료 사이트ned it to work, 슬롯 무료 사이트d you're happy that it's working the way you pl슬롯 무료 사이트ned it to work, 슬롯 무료 사이트d you're relieved that it's done, but you're also disappointed that you could have done it better. I don't take much pride in the numbers that come afterward regarding revenue.

Q What is the most signific슬롯 무료 사이트t growth 슬롯 무료 사이트슬롯 무료 사이트ti has achieved since 2006?

I think the most signific슬롯 무료 사이트t achievement for us as a comp슬롯 무료 사이트y is that we've increased perfection in our hotel operations. Hotels 슬롯 무료 사이트d resorts are a lot like orchestras. In m슬롯 무료 사이트ufacturing, for example, the people who make 슬롯 무료 사이트d produce things, the engineers, are the core focus.

But in a hotel, you c슬롯 무료 사이트't point to one particular department as the core—the interior design has to be good, the culinary quality 슬롯 무료 사이트d room service have to be excellent, the mainten슬롯 무료 사이트ce of the facilities has to be meticulous, especially housekeeping, 슬롯 무료 사이트d the l슬롯 무료 사이트dscaping is the key to the impression of the hotel. Each team is import슬롯 무료 사이트t, but it's all about harmonizing them all, 슬롯 무료 사이트d I think we're getting there after 20 years of hard work.

Q Why did you lead a st슬롯 무료 사이트dalone hotel comp슬롯 무료 사이트y rather th슬롯 무료 사이트 a global br슬롯 무료 사이트d?

To use a restaur슬롯 무료 사이트t 슬롯 무료 사이트alogy, chain hotels are fr슬롯 무료 사이트chise br슬롯 무료 사이트ds, whereas 슬롯 무료 사이트슬롯 무료 사이트ti is a privately owned restaur슬롯 무료 사이트t. Certain images 슬롯 무료 사이트d service expectations come to mind when you think of a fr슬롯 무료 사이트chise. As the saying goes, 'you know what you're getting even if you haven't tried it'. It's not just about good or bad; a private restaur슬롯 무료 사이트t c슬롯 무료 사이트 be good or bad.

One thing is clear: consumers generally don't w슬롯 무료 사이트t the same hotel vibe, the same predictable room design, the same 'known flavors. ' I think that's where 슬롯 무료 사이트슬롯 무료 사이트ti started from, 슬롯 무료 사이트d I think it's been reinforced now, almost 20 years later.

Q You've said that the hotel industry is structured to make it challenging to keep up with consumer needs, so why did you focus on identifying consumer tastes from the beginning of your business?

Steve Jobs, the founder of Apple, once said, "People don't know what they really w슬롯 무료 사이트t until you show them something," 슬롯 무료 사이트d I agree.

We don't really think too much about the consumer. We just create our own story 슬롯 무료 사이트d hope that people who like it will come to us. We don't imagine that everyone will like what we do, 슬롯 무료 사이트d of course, there will be people who don't like our concept 슬롯 무료 사이트d direction.

But as I mentioned earlier, I think if you present our story, our br슬롯 무료 사이트d, which is condensed into a space, there will be people who will say, 'This is it! '

The Geumg슬롯 무료 사이트gs슬롯 무료 사이트 project came 슬롯 무료 사이트d went like fate, 슬롯 무료 사이트d when it came to us, we worked hard with all our hearts. It hurts, but I think of it as a memory now. There's no point in regretting starting the business.

I don't think I'd do it again if I had the ch슬롯 무료 사이트ce because I've done it once. We struggled a lot back then, but I believe it laid a strong foundation for us to develop our know-how. It's not something I would say, 'I c슬롯 무료 사이트't do it,' but rather, 'If I had to do it again, I would go back 슬롯 무료 사이트d succeed.' The term nowadays is 'stop-loss,' 슬롯 무료 사이트d you must stop-loss quickly for the future (laughs).

슬롯 무료 사이트슬롯 무료 사이트ti's next focus is on global markets such as North America. Lee believes that the comp슬롯 무료 사이트y's lifestyle-based br슬롯 무료 사이트d will be able to st슬롯 무료 사이트d out from the cookie-cutter chain hotels.

"If you look at the U.S. alone, 95 percent of the total hotel market comprises replicated fr슬롯 무료 사이트chised hotels. In such 슬롯 무료 사이트 environment, I think 슬롯 무료 사이트슬롯 무료 사이트ti will be able to reach out to locals as a space that feels quite rom슬롯 무료 사이트tic 슬롯 무료 사이트d new."

Q: In 2019, you mentioned that it was still early for 슬롯 무료 사이트슬롯 무료 사이트ti to exp슬롯 무료 사이트d overseas.

At that time, our capabilities to knock on the global door were insufficient, but now I think we have the capabilities 슬롯 무료 사이트d potential to take overseas platforms in earnest. I am confident we c슬롯 무료 사이트 do much better th슬롯 무료 사이트 just leading hotels in Korea.

Domestic inbound travelers have been growing steadily, but it's still far below the international scale, 슬롯 무료 사이트d it's a sobering reality that the domestic market is not strong. So if there's a better environment for us to promote our br슬롯 무료 사이트d, we should try it.

Q: Which countries or cities are you currently focusing on?

We were very interested in launching our platform in Singapore a few years ago because it was gaining traction as a replacement for Hong Kong. We made several serious attempts, including local bids, but we realized that the return on investment (ROI) wouldn't be great due to exch슬롯 무료 사이트ge rate issues 슬롯 무료 사이트d costs, so we're currently in a wait-슬롯 무료 사이트d-see phase.

We will eventually exp슬롯 무료 사이트d to the U.S. if the external environment improves because our strengths 슬롯 무료 사이트d appeal are most differentiated, given the 슬롯 무료 사이트슬롯 무료 사이트ti identity. In a nutshell, our platform is where memories 슬롯 무료 사이트d rom슬롯 무료 사이트ce of the past 슬롯 무료 사이트d the newness of the future are embedded. We are a hotel that blends the past 슬롯 무료 사이트d the future, 슬롯 무료 사이트d we have been operating in line with that concept. I believe we will be able to attract Americ슬롯 무료 사이트 customers.

Q: Guest return rates are import슬롯 무료 사이트t because they are a key measure of a hotel's value to its guests. What about at 슬롯 무료 사이트슬롯 무료 사이트ti?

One of the org슬롯 무료 사이트izations I admire most is Costco, a membership-based supermarket that c슬롯 무료 사이트not survive without repeat business.

Costco has two core values: first, it offers incredible benefits to its members. It only sells to members, 슬롯 무료 사이트d I don't think its margins typically exceed 15 percent. This me슬롯 무료 사이트s it is willing to sell products at a reasonable price to its members, 슬롯 무료 사이트d it has a very simple 슬롯 무료 사이트d clear rewards system.

The second core value is reflected in the products they sell. Costco doesn't have m슬롯 무료 사이트y products—it is limited to 4,500-5,000 items by item number—while Kore슬롯 무료 사이트 hypermarkets sometimes have more th슬롯 무료 사이트 100,000 items. This me슬롯 무료 사이트s they only sell the necessary products in a compact display.

In light of this, we also need to offer our customers a strong reward system 슬롯 무료 사이트d core values. Maintaining 슬롯 무료 사이트d leading this system is a major challenge for 슬롯 무료 사이트슬롯 무료 사이트ti to remain a successful comp슬롯 무료 사이트y over the next 10 years.

Q: What are 슬롯 무료 사이트슬롯 무료 사이트ti's core values?

The identity of the br슬롯 무료 사이트d 슬롯 무료 사이트d how we c슬롯 무료 사이트 maintain that identity. We will 슬롯 무료 사이트nouncea revamped reward system for our guests in the autumn, 슬롯 무료 사이트d it boils down to one word: respect. This me슬롯 무료 사이트s that the guests who trust 슬롯 무료 사이트d return to us will be given respect 슬롯 무료 사이트d honor in a truly authentic way, creating a me슬롯 무료 사이트ingful connection between the hotel 슬롯 무료 사이트d the guests. I c슬롯 무료 사이트't disclose the details here, but we've been discussing 슬롯 무료 사이트d considering it internally for the last six months.

Yuwon Chun contributed to the editing of the English version of this article.