By Kim Tae-jong
Staff Reporter
The resort industry is often seen as being divided into two categories ― one for the thrifty and the other for the rich. Some budget-sensitive consumers are looking for cheap resorts amid price hikes, but the selection for luxury brands remains small.
The latest example of the latter is the Banyan Tree Club and Spa Seoul, which targets high-income earners.
The mountain-style resort is under construction on a 69,000-square meter lot on Mount Namsan, in the heart of Seoul. The site was formerly home to the Tower Hotel.
The resort will have various high-end facilities such as a fitness center, spa, restaurants, tennis courts and a swimming pool.
Membership will cost a 100 million won ($102,000) registration fee and an annual fee of 3 million won per person. The resort plans to increase the admission fee to 150 million won upon its official launch in May 2009.
Many may wonder who can afford such fees but it seems that there is demand for such exclusive resorts, given it has already accepted 1,900 members (about 40 percent of the goal of 4,500) even before the completion of construction.
``We believed that there was a strong demand for distinctive services for socially and financially successful figures,'' said Lee Jung-hee, executive director of Banyan Tree Club and Spa Seoul. ``They want to have their own place for their family and communities to share similar interests with similar people.''
Current members include politicians, CEOs, and academics ― about 20 percent of them are foreign nationals.
As the resort aims to offer perfect relaxation and rejuvenation in a peaceful environment, the resort is also very selective in accepting members ― money is not the only factor.
When a person applies for membership, the resort's admission committee examines the application to decide if they will accept them based on the applicant's financial and social status.
At the resort, members can enjoy various activities such as golf, tennis, swimming and basketball. In its signature spa, well-trained therapists from the Banyan Tree Spa Academy on Phuket will assist them.
Membership can also be inherited.
The resort has also opened a lounge in Cheongdam, southern Seoul, to offer pre-services to members before it opens.