North Korea's Hotel Of Doom Worth $750 Million

Holding the Guinness World Record for the tallest unoccupied building, the Ryugyong Hotel in North Korea is a hulking, gloomy spectacle on Pyongyang’s skyline. Its name, "capital of willows" is also one of the historical names for Pyongyang. The building is also known as the 105 Building, a reference to its number of floors.

North Korea decided to host the "World Festival of Youth and Students," a kind of socialist version of the Olympic Games that has been held at random intervals since 1947.

In 1987, work began on the Ryugyong Hotel in the North Korean capital, Pyongyang. It was supposed to be 1,083 feet tall, with 3,000 rooms, a bowling alley, nightclub, and five revolving restaurants. It was also due to be opened in 1989.

In preparation for their alternate Olympics, they spent approximately $ 4 billion on new roads, infrastructure, and a stadium. The second major announcement was the construction of the tallest hotel in the world, the 105-floor Ryugyong Hotel. It was scheduled to open just in time for the festival.

Work began, but it soon became clear that the 1989 goal was too ambitious, and the plans were changed. Instead, the hotel was scheduled to open in 1992 to celebrate Kim Il-Sung's 80th birthday.
Unfortunately, although the building had reached its full height of 1,080 feet in 1992, problems with materials and construction methods had caused numerous delays. At the time, it had cost about $ 750 million to build, which is 2 percent of North Korea's GDP.

The building was essentially a windowless shell. Then, the work was completely stopped for 16 years.

In 1991, the Soviet Union collapsed. And, with it went North Korea's most important trading partner and aid donor. Until then, the economies of North and South Korea weren't that different. However, after the dissolution of the Soviet Union, the North experienced a major economic crisis.
From 1992 to 2008, the Ryugyong Hotel was half-finished and dominated the Pyongyang skyline with a rusty crane perched on it.

It was around this time, when the structure was falling into disrepair due to the elements, birthing the speculation that it would eventually have to be destroyed, that the less than a flattering nickname, "Hotel of Doom" began. It seemed unlikely that it would ever end.


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