Lotte Hotel & Resort has been operating 13 overseas chain hotels and resorts with over 4,000 rooms since the opening of its first overseas hotel, Lotte Hotel Moscow, in 2010, which has undergone continuous expansion. In particular, it is executing a two-track strategy by expanding its brand awareness in major global cities such as New York while focusing intensively on high-growth emerging markets like Vietnam and Myanmar.
Lotte Hotel & Resort opened the first overseas branch of its lifestyle hotel brand L7 Hotel in Hanoi, Vietnam, last September, in addition to Lotte Hotel and Lotte City Hotel. The second branch is scheduled to open this year in Chicago, USA.
Lotte Hotel & Resort is actively expanding its management of hotels under an asset-light strategy, which is unusual for a domestic hotel company. It has proven its hotel management capabilities on the global stage by successfully operating Lotte City Hotel Tashkent Palace in Uzbekistan. Subsequently, it has gradually increased the number of managed hotels worldwide, including Lotte Hotel Yangon, Lotte Hotel Samara, Lotte Hotel Seattle, and L7 West Lake Hanoi by Lotte.
This approach was previously considered possible only for leading global hotel chains such as Marriott and InterContinental, which demonstrates the high international brand competitiveness of "Lotte Hotel," to the extent that others want to use the "Lotte Hotel" name worldwide. With the achievement of the first franchise contract, it is expected that Lotte Hotel's overseas expansion will accelerate even more rapidly in the future.
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