Lotte Hotels & Resorts

Lotte Hotels & Resorts
Company typeDivision
IndustryHospitality
Founded1973; 51 years ago (1973)
Headquarters
Seoul
,
South Korea
Area served
South Korea, Russia, United States, Japan, Vietnam, Myanmar, Uzbekistan
Key people
Ahn Sei-jin
(President and CEO)
ParentLotte Corporation
Websitewww.lottehotel.com

Lotte Hotels and Resorts is a South Korean luxury hotel chain operated by Lotte Hotel Co., Ltd., the hospitality arm of Lotte Corporation. The company was founded in May 1973. Starting with the opening of Lotte Hotel Seoul in 1979, luxury chain hotels opened in Jamsil, Busan, Jeju, and Ulsan. The first business hotel, Lotte City Hotel Mapo, opened in April 2009, and the first overseas chain, Lotte Hotel Moscow, opened in June 2010. On December 8, 2011, the second business hotel, Lotte City Hotel Gimpo Airport opened within the Lotte Mall Gimpo Airport complex.[1][2]

History

Lotte Group was originally established in Japan and expanded into South Korea with the establishment of Lotte Confectionery Co., Ltd in 1967. Lotte Group consists of over 60 business units in such diverse industries as candy manufacturing, beverages, hotels, fast food, retail, financial services, heavy chemicals, electronics, IT, construction, publishing, and entertainment.

Lotte Hotels & Resorts was founded in 1973 with the opening of the first hotel of the chain Lotte Hotel Seoul, located in Jung-gu. It features the Royal Suite, which is 460 square meters large.[3] It has a direct connection to a supermarket and department store, via an escalator in the lobby.

The company expanded its business in 1988 and opened Lotte Hotel World, a recreational complex which consists of a large indoor theme park, an outdoor amusement park, an island linked by monorail, shopping malls, a hotel, a Korean folk museum, sports facilities, and movie theatres in one area.

The third hotel, Lotte Hotel Busan was opened in 1997 in Busan, South Korea's second largest metropolis after Seoul and its largest port city.

Lotte Hotel Jeju was opened in 2000 on Jeju Island, which has a temperate climate, natural scenery, and beaches. Jeju is a popular tourist destination for South Koreans as well as visitors from other parts of East Asia. Two years later the chain opened Lotte Hotel Ulsan.

The sixth hotel Lotte City Hotel Mapo was opened in 2009 in Mapo, Seoul's district. This "city hotel" caters to business travelers. There is also a sister hotel in Tokyo, Japan (Lotte City Hotel Kinshicho).[4][5]

The first chain hotel abroad, Lotte Hotel Moscow, was opened in Russia in 2010.

Lotte City Hotel Gimpo Airport was opened in Banghwa-dong, Gangseo-gu, Seoul, on December 8, 2011. The hotel is situated within the Lotte Mall Gimpo Airport complex. The 8-story building houses 197 rooms, 1 buffet restaurant, banquet halls, business conference rooms, fitness center, and coin laundry.

References

  1. ^ "Korean Samurais back in the rumour mill". IFR Asia. November 28, 2009. Retrieved 25 March 2010. Lotte Hotels & Resorts issued a ¥10bn three-year FRN. Pricing is estimated around three-month yen Libor plus 80bp area. Shinhan Investment Corp was lead ...
  2. ^ Brooke, James (March 11, 2003). "Trial Runs of a Free Market in North Korea". The New York Times. Retrieved 25 March 2010. We are interested in one day opening restaurants in Pyongyang, Kwon Won Sik, president of the Lotte Hotels and Resorts chain, said during a pause in a mountain hike here.
  3. ^ Tey-Marie Astudillo; Frances Cha (3 January 2012). "Seoul's most expensive hotel suites". CNN Go. Archived from the original on 24 July 2012. Retrieved 3 June 2012.
  4. ^ Kwon Mee-yoo (April 9, 2009). "Lotte Opens Business Hotel". The Korea Times. Retrieved 25 March 2010.
  5. ^ Lee Joo-hee (April 11, 2009). "Lotte opens new business hotel". The Korea Herald. Archived from the original on April 16, 2009. Retrieved 25 March 2010.