SK terminates franchise contract with Sheraton

[THE INVESTOR] SK Networks has decided not to renew its franchise agreement with Sheraton Hotels & Resorts for its Walkerhill hotel in Seoul, according to news reports on Oct. 4.

Established in 1963, SK’s Walkerhill Hotel has partnered with the global hotel chain in 1977, but after four decades, the parent company believes, the homegrown hotel is ready to stand on its own. 

Sheraton Walkerhill hotel in Seoul

This is seemingly against the growing tendency in South Korean hospitality industry to join hands with international partners: Shinsegae’s Chosun has affiliated with Starwood’s Westin, Hanwha’s The Plaza with Marriott’s Autograph Collection, and most recently The Palace Hotel Seoul signed up with Sheraton.

By Hwang You-mee (glamazon@heraldcorp.com)