MGRV said on the 23rd that Mangrove Jeju City is growing into a key hub in the workation market. Workation is a portmanteau of "work" and "vacation," a new work style in which people work remotely from travel or resort destinations while enjoying leisure.
Since opening in Nov. last year as a workation-specialized location, Mangrove Jeju City has maintained steady year-round demand with an average room occupancy rate of 82%. From April, its sixth month of operation, the monthly average room occupancy rate reached 90%.
Unlike general tourists, whose demand peaks on weekends, workation users show a residential pattern of staying steadily without day-of-week fluctuations. Mangrove Jeju City demonstrated stable demand with consistently high utilization both on weekdays (82.3%) and weekends (82.1%).
The length of stay also differs from general tourism, ranging evenly from short term to mid-to-long term. While more than half (57.4%) of Jeju tourists are short stays of three days, at Mangrove Jeju City, stays of three nights or more account for 61% of all stays.
Leveraging the country's largest workation workspace and excellent accessibility to Jeju International Airport, Mangrove Jeju City is successfully capturing workation demand from corporate clients as well. Corporate clients account for about 10% of the total. Visits were highest from the information and communications (IT) and platform sectors, the public and research sectors, and the content industry group.
MGRV plans to roll out a "workshop total package" to target the corporations workation market. By bundling round-trip airfare, Jeju local currency, Mangrove Jeju merchandise, and work lounge benefits, the company aims to improve user convenience and strengthen community-based benefits.
Cho Kang-tae, CEO of MGRV, said, "As flexible work spreads and hybrid work takes hold, the workation industry will continue to grow," adding, "As a hub drawing people from outside the island to Jeju, we will provide new inspiration to individuals and inject sustainable vitality into the local community."