Hotel Fair 2019
February 13rd ~ 15th, 2019
Coex, Seoul
Categories: Development & Consulting, Furniture Fixtures & Equipment
(FF&E), Installation equipment, Operational Support Equipment (OS&E), Design
& Architecture, Smart & Technology, Food & Beverage, Outsourcing
& Education
2018 Exhibitions
100 exhibitors
7,116 buyers
40% of the visitors were from the Hotel & Resorts industry.
Hotel Fair Overview
The exhibition took place at Hall
D of Coex. In most cases, a single hall exhibition usually does not have many
international buyers. However, walking the exhibition, there were a few
international buyers expressing interest and shaking hands with the exhibitors.
There was also an ongoing Hotel Resort
Conference with daily themes of ‘Hotel Trends & Hot Topics’, ‘Seize the
Future’ and ‘Hotel Branding Strategy & Hotel Interior design.’
Most of the booths were related to Furniture Fixtures &
Equipment (FF&E) and some aspects of Design & Architecture. There were
also numbers of Operational Support Equipment (OS&E) related booths.
Some of the booths were designed interestingly Most of the
booths were related to Furniture Fixtures & Equipment
(FF&E) which some aspects of Design & Architecture. There were
also many Operational Support Equipment (OS&E).
One of the trends which can be observed not only in the hotel
industry was the enhancement of technology, and IT sectors used in industries.
KT GIGA Genia Hotel AI system is a total control system which
can be controlled by voice recognition or touch screen. The visitor would be
able to control everything with their voice or with a fingertip with less human
interaction.
Hotel Industry
DaeBul Hotel was the first Korean hotel which opened in 1883.
The hotel industry in Korea has been over 130 years, but the Korean brands were
not able to firmly spread their wing internationally nor establish stability on
their home ground. The hotel industry had a boost in the 1988 Olympics which
allowed them to grow. To keep the ongoing sales, the hotels started to use
Online Travel Agencies (OTA) to bring in large groups of tourists. This demand
leads to the OTA market to become mainstream.
One of the hot issues for the hotel industry is the increase in
minimum wage which increased by 16% in 2018 and expected to increase by 10% in
2019. Hotels are searching for solutions to reduce cost and at the same time,
the AI systems are coming in the spot line.
Even with contrary views, international brands and picky
Japanese brands started to enter the Korean markets recently. We believe this
shows that global experts believes the Korean market has a bright future.
The international customers pool in 2018 changed. Asian
countries still cover 80% of the pool, but the composition has changed.
Starting from 2000, the Chinese were the largest and most spending tourist
groups, but after THAAD issues elevated, Chinese tourist decreased
dramatically. The number is slowly recovering, and the overall Asian visitor
percentage is still stable due to the increase of tourist from other Asian
countries.
The domestic customers pool also showed some differences. An
increase of singles between their thirties and forties and small size families
for a Staycation, which is a preference to stay close to the city during
holidays instead of long-distance trips.
If you would like to identify and capitalize on business opportunities in Korea, let IRC Guide your Way! www.ircconsultingkorea.com, Jacob at lsh@ircconsultingkorea.com
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