Even more hotels


During our cold January visit, we stayed at the Koryo Hotel. One change that was hard to ignore was the huge gaping hole next to the venerable Koryo. Construction for a new hotel was underway and the site was quite busy, with several work teams and plenty of revolutionary music. It is supposedly meant to be a 75 storey structure, though we also heard 45 storeys thrown out. I have previously written about the hotel market in Pyongyang, and short of major changes in how North Korea relates to foreigners, I am still bearish about hotel demand in the medium term.