Aman, Rosewood and Mandarin Oriental: the hotels set to make Seoul Asia’s new luxury capital

For a long time, the very top end of Seoul came down to a handful of addresses: the Four Seasons in 2015, Signiel in 2017, Josun Palace in 2021. Rosewood, Mandarin Oriental, Aman and The Ritz-Carlton are preparing to arrive in four different districts of the Korean capital, while Korean groups are cutting room counts to move upmarket.

☰Contents

1. Rosewood opens in 2027 beside Yongsan Park
2. 128 rooms by André Fu at Seoul Station
3. Aman and its 49 residences on the Han River
4. The Ritz-Carlton returns to Seoul around 2031
5. How Lotte, Hanwha and Paradise are fighting back
6. Who holds two MICHELIN Keys in Seoul?
7. 18.94 million foreign visitors in 2025

Rosewood opens in 2027 beside Yongsan Park

First in line, Rosewood Seoul will open in 2027 in The Parkside Seoul, a mixed-use complex built on the former site of the United Nations Command, next to Yongsan Park and close to the Itaewon district. The hotel will have around 250 rooms and suites and seven restaurants and bars. Developer Eleven D&C has entrusted the architecture to Kohn Pedersen Fox and the interiors to the Space Copenhagen studio.

For wellbeing, the 4,500 m² Asaya spa will bring together an indoor pool, saunas and indoor golf, alongside Rosewood Explorers, the brand’s kids’ club.

128 rooms by André Fu at Seoul Station

Mandarin Oriental, Seoul will open in 2030 with 128 rooms and suites, in the business district north of the Han River. It will sit within the redevelopment north of Seoul Station, five buildings led by the Korean group Hanwha, which signed with Mandarin Oriental on 3 September 2025. The interiors are by designer André Fu.

The brand promises a panoramic restaurant on the 21st floor and three more on the 20th, including a Korean chef’s counter. The spa will span four floors, with a 25-metre pool, alongside a simulator golf academy and a ballroom.

Aman and its 49 residences on the Han River

South Korea’s first Aman will rise in Cheongdam, in the Gangnam district on the south bank of the Han River, on the site of the former Prima Hotel at the foot of Yeongdong Bridge. Developed with Shinsegae Property, the project comprises a 38-storey tower of around 70,000 m², with a hotel, 49 Aman-branded private residences, shops, a cultural space and a private Aman Club with a pool and gym. We covered Aman’s arrival in Seoul with Shinsegae as soon as it was announced.

Aman will design the architecture and interiors and run the property. However, no opening date has been announced, nor the number of rooms: the official page simply says “Coming soon”. The project stems from a joint venture between Shinsegae Property and OKO Group, the company of Vlad Doronin, Aman’s owner.

The Ritz-Carlton returns to Seoul around 2031

The fourth name on the list, The Ritz-Carlton will return to Seoul around 2031. The Marriott brand was chosen in April 2025 by IGIS Asset Management for Iota Seoul, on the site of the former Millennium Hilton Seoul, which closed on 31 December 2022, at the foot of Namsan hill.

How Lotte, Hanwha and Paradise are fighting back

Korean groups are not standing still. On 14 August 2026, Lotte Hotels & Resorts relaunched Lotte Hotel Seoul, opened in 1979, under a new name, The Grand Lotte Seoul, its first new upscale brand since Signiel in 2017. After 15 months of work with designer Pierre-Yves Rochon, the main tower drops from 737 to 590 rooms, for 868 rooms in total compared with 1,015 before.

Hanwha, already behind the Mandarin Oriental, closed The Plaza on 30 September 2026: the 319-room hotel, opened in 1976 opposite City Hall, is due to reopen in 2029 as an ultra-luxury property with more suites, as we reported. Finally, the Paradise group is building its flagship hotel in Jangchung-dong, opposite The Shilla Seoul, on the site of its former headquarters: completion is targeted for 2028, with an announced investment of 575 billion won.

Who holds two MICHELIN Keys in Seoul?

On the MICHELIN Keys front, the hotel equivalent of the Stars, the 2026 selection published on 18 September saw Four Seasons Hotel Seoul move up from one to two Keys, while Signiel Seoul, set between floors 76 and 101 of Lotte World Tower, keeps its two Keys for a second year. Josun Palace in Gangnam, The Shilla Seoul and Fairmont Ambassador Seoul hold one Key. In all, Korea has nine distinguished hotels, three of them with two Keys. For comparison, see the 2026 MICHELIN Keys in Malaysia.

18.94 million foreign visitors in 2025

According to the OECD, Korea welcomed 18.94 million foreign visitors in 2025, a record and up 15.7%. Consultancy Cushman & Wakefield puts Seoul hotel occupancy at 79.2% the same year, above pre-pandemic levels, and revenue per available room at around 150 dollars, 67% higher than in 2019.

Above all, the city now adds only around 1,000 rooms a year, a quarter of the pre-2020 pace. Supply is barely growing while demand hits record highs.