Sono International pursues IPO, eyes global hospitality leadership

Sono International, the hotel and resort operator of Sono Trinity Group, is moving forward with an initial public offering.

The company said Monday it submitted a preliminary listing application to the Korea Exchange on Friday for a Kospi listing. Daishin Securities and Mirae Asset Securities are serving as joint lead managers.

Sono International had originally planned to pursue an IPO last year but decided in August of that year to postpone, citing market conditions and the company's financial situation. The company determined it needed to first stabilize the finances of T'way Air, which it acquired in June 2025, before proceeding with a listing. On a consolidated basis, T'way Air posted sales of 1.7982 trillion won ($1.16 billion) and an operating loss of 265.5 billion won last year.

A company official said T'way Air's capital impairment has been resolved and that the airline returned to operating profit in the first quarter of this year, helped in part by a boom in the travel industry. Sono International had also attempted an IPO in 2019 but scrapped the plan after the COVID-19 pandemic hit.

Sono International operates more than 15,000 resort and hotel rooms across 21 domestic and 22 overseas locations, along with leisure facilities including ski slopes, water parks and equestrian centers. The company entered overseas markets in 2020 with a management contract for Sono Belle Haiphong in Vietnam and has since acquired properties including the 33 Seaport Hotel New York in New York City. It plans to expand its overseas portfolio to 55 hotels and resorts, primarily across the Asia-Pacific region, by 2029.

Through the listing, the company aims to establish itself as a global hospitality brand and accelerate business growth by building an integrated service platform spanning hotels and aviation. Sono International posted record sales of 968.8 billion won and operating profit of 248.2 billion won last year.

"We will use the Kospi listing as an opportunity to strengthen customer-focused, differentiated content and enhance our global competitiveness, particularly across Asia as well as at home," a company official said. "Over the medium to long term, we will diversify our business portfolio and grow into a leading global hospitality company with both stability and growth potential."