SEOUL, Jan. 21 (Korea Bizwire) – Officials from Lotte Hotel, Lotte Department Store and Lotte Duty Free announced that they executed a special anti-terrorism drill in collaboration with the Namdaemun Police Station and Joongbu Fire Department. The drill took place on the second floor of Lotte Hotel in Seoul. The drill was executed as a [...]
SEOUL, Jan. 11 (Korea Bizwire) – Lotte Hotels & Resorts, Lotte Group’s hotel unit, said Monday it will actively look for overseas business opportunities through mergers and acquisitions (M&As) once it acquires cash from the highly anticipated initial public offering. Lotte Hotel last month submitted its application for market floatation on the Seoul bourse, taking [...]
SEOUL, Jan.7 (Korea Bizwire) – Although the number of foreigners visiting Korea every year is reaching 20 million, five star hotels in Korea seem to be neglecting hansik, traditional Korean cuisine. According to industry analysts, among the 20 five star hotels located in Seoul, only three hotels had Korean restaurants – the Sheraton Grand Walkerhill, [...]
SEOUL, Dec. 7 (Korea Bizwire) – South Korean retail giant Lotte’s hotel unit has been working on an employee stock ownership scheme as part of preparations to list its stocks on the Seoul bourse, company officials said Sunday. Hotel Lotte, a unit of South Korea’s fifth-largest conglomerate Lotte Group, plans to submit an application next [...]
SEOUL, Aug. 28 (Korea Bizwire) – Lotte Hotel has announced that they have finalized a buyout of The New York Palace Hotel, located in Manhattan, for a total cost of $805 million. Lotte Hotel signed the buyout agreement on May 29, and set a corporate body to manage it on June 5. Officials from the hotel [...]
SEOUL, June 2 (Korea Bizwire) – Eight Korean retail giants have thrown their hats into the ring in a bid to secure the rights to operate two new duty-free shops in Seoul. Duty-free businesses are considered to be geese that lay golden eggs. According to the Korea Customs Office, as of June 1, the closing [...]
SEOUL, Mar. 12 (Korea Bizwire) — Well-known hotel chains are increasingly planning to open business hotels in Seoul, creating additional competition in the hospitality industry. Accor, the global hotel group that operates 16 properties in Korea, has opened a business hotel, Ibis Style Ambassador Seoul, in Myeongdong. The company is planning to open two more Ibis Style [...]