Kempinski to operate world’s tallest hotel in N. Korea

The world’s tallest hotel will open next year in the North Korean capital of Pyongyang as the impoverished totalitarian regime burdened by international sanctions seeks foreign currency through a boost in tourism.

The 105-story, pyramid-shaped Ryugyong Hotel, whose foundations were poured almost three decades ago, will open partially in July or August, Kempinski AG Chief Executive Officer Reto Wittwer said Thursday at a forum in Seoul. The German luxury-hotel manager will be the first western hospitality company to operate in North Korea, he said.

North Korean leader Kim Jong-un is courting overseas visitors as one of the main means to earn much-needed foreign currency as the international community imposes tougher sanctions on the politically isolated Asian nation for conducting nuclear tests in 2006 and 2009.
 

(Bloomberg)