Paradise Co to Acquire Grand Hyatt Incheon West Wing

Paradise Co is finally closing a protracted acquisition, confirming it will take control of the West Wing at the Grand Hyatt Incheon on Wednesday, January 6. The deal ends a series of delays since the company first named the property as its target in September.

Originally, Paradise Co had aimed to complete the transaction by October 31, 2025. Subsequent postponements shifted the target first to December 19, then to January 19, 2026. In a Korea Exchange filing, the company stated that all conditions for the acquisition have now been satisfied, allowing the closing date to move forward to January 6.

The purchase price is 210.0 billion Korean won (around US$145.2 million), and a subsidiary of Paradise Co will execute the transaction. The West Wing, a 500-room extension of the Grand Hyatt Incheon, opened in 2014 after the hotel was rebranded from the original Hyatt Regency Incheon, which had launched in 2003. The property sits next to Paradise City, the integrated resort co-developed by Paradise Co and Sega Sammy Holdings of Japan.

Strategic Implications
This acquisition strengthens Paradise Co’s position as a major integrated resort operator in South Korea. Already running casinos in Seoul (Walkerhill), Busan, and Jeju Island, the company is targeting growth in the country’s gaming and tourism markets. By owning hotel facilities adjacent to Paradise City, Paradise Co can host guests on-site, enhancing convenience and creating a fully integrated experience for resort visitors.

The West Wing’s proximity to Incheon International Airport adds further appeal, ensuring seamless access for international guests. Analysts, including Hanwha Investment & Securities, have suggested that the additional hotel capacity could drive higher casino-drop volumes, as more visitors staying on-site may translate into increased gaming activity.

Resolving Previous Delays
The multiple postponements from October through December and now January indicate that the company may have encountered internal coordination or financing challenges. With these hurdles apparently resolved, Paradise Co is poised to move forward with the acquisition.

The Grand Hyatt West Wing purchase is a strategic effort to consolidate Paradise Co’s holdings, integrating both hospitality and gaming operations in a key location. In a market with foreigner-only casino restrictions and limited property opportunities, controlling the full resort ecosystem provides a competitive advantage while maximizing the guest experience and operational value.