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[Alpha Biz= Reporter Kim Sangjin] DL Group is moving forward with the sale of its Glad Hotels.
According to investment banking (IB) industry sources on the 12th, Glad Hotel & Resort, a subsidiary of DL Group, will receive bids and proposals from domestic and international real estate asset management firms by the end of this month, including acquisition prices and conditions.
The properties for sale are the Glad Yeouido Hotel, Glad Gangnam COEX Center, and Maison Glad Jeju Hotel. It has not yet been decided whether they will be sold as a package or separately.
The total expected value of these three hotels is estimated to be in the mid-6000 billion won range. Glad Yeouido Hotel and Glad Gangnam COEX Center are considered valuable business-type hotels.
Maison Glad Jeju is a large hotel in Jeju Island with a total of 513 rooms.
Glad Hotel & Resort, which originated from Ora Tourism, was incorporated into DL Group in 1986 along with Samho Group.
The hotel business is considered a non-core operation within DL Group, and successfully selling the hotels would effectively mark the end of its hotel operations.
A DL Group official stated, "We are considering various options regarding the sale of Glad Hotels, but no decisions have been made yet."
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
