Korean firm purchases two resort hotels in Saipan

The Saipan Tribune reports that Korean firm E-Land Group has acquired the Pacific Islands Club Saipan and Palms Resort Saipan for an undisclosed amount. Saipan is the largest island of the United States Commonwealth of the Northern Mariana Islands, and a popular getaway. The two hotel resorts are located on the opposite sides of Saipan-Palms Resort is in the north, while PIC is in the south. E-Land Group is one of the biggest fashion and retail firms in South Korea and also has business interests in hotels, condominiums and construction. Word is E-Land is also trying to acquire the Aqua Resort Club in Achugao. Tokyo-based real estate development firm Ken Corp. acquired PIC Saipan and PIC Guam in June 2011 from InterPacific Group Limited.