Korean Hotel Brand Behind New York Palace Plans Bigger U.S. Presence
Photo Credit: Lotte Hotels & Resorts plans to add 20 properties, largely centered on the Americas, to its portfolio in the next five years (Pictured: the Lotte Hotel Seattle). Lotte Hotels & Resorts
Skift Take
Lotte may not be a household name in North American hospitality, but it could quickly become one thanks to hotel owners coming out of the pandemic looking for lower branding costs than what the likes of Marriott or Hilton demand.
The best North American brand recognition for South Korea-based Lotte Hotels & Resorts is likely the Lotte New York Palace, once owned by Harry and “Queen of Mean” Leona Helmsley and a prominent backdrop in TV shows like “Gossip Girl” and “30 Rock.”
But the hotel company has a new CEO for the Americas bullish on the prospects of building up Lotte brands across North America.
“Let's be honest, it's relatively unknown in the Americas. I think it's safe to say that most Americans probably don't even know how to pronounce the word ‘Lotte,’” Jim Petrus — who this month became CEO of the Americas division for Lotte (pronounced “low-tay”) — told Skift with a laugh. “One of our key objectives is to make sure that people are familiar with the brand and that they know what the brand stands for in different corners of the globe.”
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