To survive in a red-ocean lodging market, differentiation is essential. But creating a differentiated property without years of know-how is extremely difficult. Without that expertise, all you have is experience — which means benchmarking.
Hello. This is ONDA, the digital leader in Korea's accommodation ecosystem.
Welcome to part two of our interview with Song Min-jun, CEO of Wasong — a property management company — and a member of ONDA Management.
Picking up where we left off in part one, we're diving deeper into his operating playbook.
What do you think is the most important thing in property operations?
First: experience.
To survive in a red-ocean lodging market, differentiation is essential. But creating a differentiated property without years of know-how is extremely difficult.
Without that know-how, all you have is experience — which means benchmarking.
Once a month, ask yourself: What sets a successful property apart from mine? What can I learn? That reflection will make a real difference.
Second: prioritization.
Service, cleanliness, marketing — you need to hit at least average in all three. But focus on what you do best, and delegate the rest to specialists.
The moment you try to do everything yourself, you burn time you can never get back.
What's the most important factor in improving guest satisfaction at a pension?
The quality of face-to-face service.
As properties across Korea have converged in quality, what turns today's guest into tomorrow's regular is service quality and genuine communication.
Even hotel star ratings ultimately boil down to one question: Can you deliver service that satisfies guests?
When I ran a pension in Sokcho, I was the first small property in the area to list on international booking channels. From 2016 to 2018, we became the most-visited pension for foreign travelers in Sokcho.
It was an ordinary pension. But I explained everything in broken English, and when I had time, I'd grill meat with guests at the BBQ pit.
A few years later, word spread that we were "the pension foreigners go to in Sokcho." We had international guests who came back once or twice a year.
If you're doing the basics but still struggling to build repeat business, it's worth revisiting the core of hospitality.
What do clients ask you to focus on most in management contracts?
Outside of master-lease hotel operations, it always comes down to profitability.
Especially in our biggest segment — serviced residences — contracts are usually structured around variable revenue-sharing between the operator and owner. Off-season and peak-season swings are huge. Every month at settlement time, clients are either celebrating or disappointed. As operators, even when we work our hardest to drive revenue, it's tough to consistently meet expectations in a high-interest-rate environment like this one.
Pension Plus is a service that makes property management easier. Why should operators use it?
People unfamiliar with hospitality think running a small property is easy. But the only thing that's small is the size — the workload is identical to a hotel.
And the owner has to handle all of it alone. The biggest pain point? Reservation management.
You sometimes see news stories about guests whose trips were ruined by overbookings caused by the property. Yes, it's 100% the property's fault. But I also understand how it happens.
Bookings come in from dozens of platforms, but you're managing fewer than ten rooms. While sorting reservations, mistakes happen. Maybe you missed something during a room inspection.
Pension Plus is a system designed to reduce those mistakes.
When reservation management is automated, owners can invest time in things that actually create value.
Finally, what do you think Korea's lodging market needs to do to grow?
Korean properties are world-class in terms of condition and quality.
But we're still a one-time destination.
For the lodging market to mature, we need tourism destinations that are diverse and differentiated. Most importantly, we need elements that make travelers want to stay longer.
The country I've visited most is the Netherlands.
No matter which city I go to in the Netherlands, I feel at ease.
And when I check into a property there, every staff member — at every level — puts guests at ease.
I've seen most of what the Netherlands has to offer. But even now, I want to go back.
Why? Because I'm curious about how they live. And I want to try living that way, too.
That was Song Min-jun from ONDA Management — sharing everything from how he got into hospitality to the operating principles he swears by.
Property owners will likely relate to much of this, and those preparing to enter the industry will find plenty of useful insight.
ONDA's blog will continue to feature not just property owners, but a wide range of voices from across the hospitality industry.