Joint Promotion of Business in Japan
Providing Hotel Management Expertise and IT Systems
On September 2, Lotte Hotel & Resorts announced that it has established a joint venture (JV) called "Lotte Hotels Japan" with Lotte Holdings in Japan, accelerating its efforts to target the Japanese market.
The joint venture establishment ceremony, held on the same day in Shinjuku, Tokyo, was attended by Ho-seok Jung, CEO of Lotte Hotel & Resorts, Tamatsuka, CEO of Lotte Holdings, and Fukui, CEO of Lotte Hotels Japan. The two companies officially announced their plans to jointly promote the hotel business in Japan.
At the joint venture (JV) establishment ceremony between Lotte Hotels & Resorts and Lotte Holdings held on the 2nd in Shinjuku, Tokyo, (from left) Tamatsuka, CEO of Lotte Holdings, Fukui, CEO of Lotte Hotels Japan, and Jung Hoseok, CEO of Lotte Hotels & Resorts, are posing for a commemorative photo. Provided by Lotte Hotels.
The new joint venture was established to strategically expand the hotel business in Japan, leveraging the assets and expertise that Lotte Group has accumulated across both Korea and Japan.
Lotte Hotel & Resorts, which operates 39 chain hotels worldwide, plans to make Japan a new pillar of growth. The company boasts strengths such as its operational systems and systematic service solutions accumulated over more than 50 years of hotel management, as well as IT systems specialized in integrated reservations and channel management.
In addition, Lotte Hotel & Resorts aims to enhance its global competitiveness by providing customers with a variety of benefits through its global membership program that connects all of its hotels around the world.
Currently in Japan, Lotte Hotel & Resorts operates Lotte Arai Resort, while Lotte Holdings operates Lotte City Hotel Kinshicho separately. The joint venture is expected to begin by supporting the joint operation of these two hotels and to establish itself as an organization responsible for new hotel development and integrated operational management.
Ho-seok Jung, CEO of Lotte Hotel & Resorts, said, "We will expand our brand lineup to build a portfolio that meets the needs of diverse customers, and accelerate our entry into major cities worldwide through an asset-light strategy focused on franchising and management contracts. In the Japanese market as well, we will leverage our accumulated hotel management expertise to expand our presence, aiming to become Asia's top global hotel operator within the next 10 years."
Fukui, CEO of Lotte Hotels Japan, stated, "Lotte Hotels Japan will work closely with Japanese customers and local communities, with well-being management as its core value. Through a wide range of wellness programs that encompass physical, mental, and social well-being, we aim to become a hotel that goes beyond simple accommodation to bring meaningful change and inspiration to our guests' lives."
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