South Korea’s Lotte Hotels & Resorts has made its debut in New York with the launch of the Lotte New York Palace.
The luxury hotel, which was previously known as The New York Palace, officially launched under its new brand on 28 August. As well as being the first Lotte Hotel in New York, it also marks the Korean hotel group’s first acquisition in North America.
“We are pleased to be continuing our global expansion by entering the North American market with such a prestigious landmark property,” said Yongdok Song, CEO of Lotte Hotels & Resorts. “We look forward to sharing our dedication to unparalleled service and luxury with The Palace’s loyal clientele, as well as with many new guests from across the globe in the future.”
Lotte New York Palace is located in midtown Manhattan, on the corner of 50th and Madison. Originally built as a private residence in 1882, the hotel has since added a contemporary 55-storey tower.
It recently underwent a major US$140 million renovation which modernised the 909 rooms and suites, five F&B outlets and almost 2,800m² of updated function space, including the Villard Mansion which is popular for weddings, events and dinners.
Lotte now operates a portfolio of 18 hotels across five countries, and has 16 additional properties in the pipeline.