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HOTEL LOTTE embarks on a new 50-year legacy building upon its 50-year heritage

HOTEL LOTTE embarks on a new 50-year legacy building upon its 50-year heritage

LOTTE HOTELS & RESORTS, LOTTE DUTY FREE, and LOTTE WORLD are the three commercial divisions of HOTEL LOTTE, a firm that produces worldwide cultural and tourist content. SIGNIEL SEOUL and LOTTE NEW YORK PALACE are two of the 33 properties that LOTTE HOTELS & RESORTS now owns across the world. The five companies owned by LOTTE WORLD are LOTTE WORLD ADVENTURE, Aquarium, and SEOUL SKY. There are 21 locations operated by LOTTE DUTY FREE, including airports in Brisbane and Guam.

Announcing the beginning of HOTEL LOTTE’s fifty-year existence (1970s)

Former Korean President Chung-Hee Park entrusted Kyuk-Ho Shin, the company’s founder and former chairman, with the hotel sector in 1970. Chairman Shin opened Hotel LOTTE on May 5th, 1973, despite the venture required significant funding. He launched LOTTE HOTEL SEOUL, the largest luxury hotel in Asia at the time, after spending $150 million over the course of six years, launching Korea’s tourist sector.

Creating a tourist attraction out of the suburban Jamsil in the 1980s

In the 1980s, HOTEL LOTTE focused on Jamsil, a Seoul suburb at the time, and started making plans for the nation’s first indoor theme park. The LOTTE WORLD Adventure opened its doors in July 1989 after a total of 454 million dollars had been invested over five years. The Guinness Book of World Records listed it as the world’s largest indoor theme park at the time, and more than 210 million people have visited it since it first opened, making it one of Korea’s premier tourist destinations.

1988 saw the opening of LOTTE HOTEL WORLD in Jamsil during the Seoul Olympics. The district became a popular tourist attraction once HOTEL LOTTE opened in January 1989, followed by the establishment of LOTTE DUTY FREE.

Laying the groundwork for a revival in the economy (1990s–2000s)

LOTTE DUTY FREE continues to expand its infrastructure by establishing its flagship stores around the nation even during the IMF financial crisis of the 1990s, aiding in the country’s economic recovery through tourism. The first duty-free establishment in the sector to emphasise brand identification through red uniforms and signs, strengthening the perception of the nation, was the duty-free launch at Gimpo Airport Terminals 1 and 2 in 1999.

K-brand promotion during the Korean wave (2010s)

Early in the new millennium, LOTTE DUTY FREE started a programme to encourage Korean travel by fusing Korean Wave with shopping, travel, and culture. The organisation has been actively promoting entertainment tourism by conducting customer-invited “Family Concerts” with popular Korean musicians like Super Junior and BTS, as well as by establishing the “Star Avenue,” a place covered with the handprints, images, and videos of famous people. Since 2006, The Family Concert has brought in a total of one million spectators, attracting tourists from all over the world to K-Brands.

In 2017, LOTTE globe unveiled the observatory “SEOUL SKY” in the LOTTE WORLD TOWER, which at the time stood at 555 metres and was the third-tallest structure in the whole globe.

Developing a worldwide growth plan to establish your company as a global leader

Based on the history of HOTEL LOTTE in Korea, the largest hotel chain in that country, LOTTE HOTELS & RESORTS, has expanded its operations internationally with the establishment of LOTTE HOTEL MOSCOW in 2010. The five-star ranking in the 2023 Forbes Travel Guide was given to LOTTE HOTELS & RESORTS for its several properties, including the 1882-built LOTTE NEW YORK PALACE, LOTTE HOTEL SEATTLE, LOTTE HOTEL ST. PETERSBURG, and others. It is a testament to LOTTE HOTELS & RESORTS’ strong brand that it has hosted major international gatherings including the UN General Assembly and the US-Korea Summit. Former US presidents Barack Obama and Donald Trump have both picked it for their stays at the LOTTE New York Palace, while Saudi Arabia’s Crown Prince Mohammed bin Salman has chosen the LOTTE HOTEL SEOUL.

Additionally, LOTTE DUTY FREE has launched five outlets in Oceania and the first facility for the Korean duty-free market at Indonesia’s Jakarta Airport. The opening of LOTTE DUTY FREE Melbourne Airport is planned for June, while the openings of L7 WESTLAKE HANOI and LOTTE WORLD AQUARIUM HANOI by LOTTE HOTELS & RESORTS are planned for August.

CEO of LOTTE Group Hotel HQ Wan-Shin Lee stated, “HOTEL LOTTE has evolved into a global company operating hotels, duty-free shops and theme parks over the past 50 years,” adding, “Based on the heritage built up to now, we will keep offering contents to enhance customer experience in order to continue to grow as a 100-year company.”

Source: breakingtravelnews

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