Delayed projects and new openings to lift Seoul hotel supply in 2026

At least 339 new hotel rooms are expected to be completed this year.

Seoul’s hotel sector is set for a pickup in new supply in 2026, with several delayed and upcoming openings expected to boost room inventory, according to a report from JLL. Projects postponed from 2025, alongside new developments, will drive fresh supply momentum across the market.

Among the anticipated openings are Hyatt Place Pangyo, which will add 206 keys, and Maison Delano Seoul with 133 keys, alongside other projects carried over from earlier delays. JLL notes that no significant new hotel supply was delivered in Q4 2025, following the postponement of L7 Cheongnyangni by Lotte, which was originally scheduled to open with 260 keys.

The upcoming pipeline is expected to complement already solid operating fundamentals. JLL reports that Seoul’s hotel market recorded steady year-on-year RevPAR growth across all segments in 2025, driven primarily by higher average daily rates. The Luxury and Upper Upscale segment saw occupancy rise by 2.3% compared to 2024, while other segments experienced slight occupancy declines that were offset by ADR-led gains.

Investment activity also remained resilient, with JLL pointing to major transactions such as the Courtyard by Marriott Seoul Namdaemun and Four Points by Sheraton Myeongdong, both completed in Q4 2025. The firm expects deal volume and transaction frequency to accelerate in 2026 as investor interest strengthens alongside improving tourism fundamentals.

Looking ahead, JLL attributes the sector’s positive outlook to strong inbound travel demand, supported by the continued global popularity of the Korean Wave and favourable macroeconomic conditions. A weaker Korean won, a projected rise in Chinese arrivals, and government support for group tourism are expected to further boost visitor numbers, with total arrivals potentially exceeding 20 million in 2026. These tailwinds, combined with new supply, are set to underpin continued growth in Seoul’s hotel performance.