The five-star, 700-room hotel has long been known as a favorite meeting spot for politicians and businessman. Located at the foot of Nam Mountain, the hotel has been operating for almost 40 years but has struggled in recent years due to a major decline in its core Chinese and Japanese clientele following the THAAD missile crisis and COVID-19. South Korean foreigner-only casino operator Grand Korea Leisure may need to find a new home for its Seven Luck Casino at Gangbuk Millennium Seoul Hilton after the hotel’s owner revealed it has been sold to a real estate fund manager.Īccording to local media reports, the Millennium Hilton Seoul Hotel will be torn down by its new owner, Aegis Asset Management, and replaced with an office building – part of a growing trend in the South Korean capital city of demolishing old hotels to make way for newer and larger developments.
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