Korean Hotel Chains Expand ‘Asset-Light’ Growth Through Management Contracts

SEOUL, June 23 (Korea Bizwire) — South Korea’s hotel industry is increasingly turning to management contracts as a cost-effective strategy to boost profitability and accelerate global expansion without the burden of large capital expenditures. Major chains such as Lotte Hotels & Resorts and Hotel Shilla are shifting away from traditional asset-heavy models toward “asset-light” approaches, securing [...]