SEOUL, KOREA – Lotte Hotels & Resorts has announced a plan to become one of the top-three brands in Asia with more than 40 hotels under management by 2018.
Lotte Hotels & Resorts president Yong-deok Song said in a press conference, "We will feature a variety of hotels from five-star hotels, business hotels, and boutique hotels and even six-star hotels. By the year 2018 we will expand up to 40 hotels including 25 in Korea and 15 in international locations."
When the company made public the 2018 Vision in 2009, the number of hotels it has under management was 20. The number has doubled to 40 in three years. Currently the company manages a total of eight hotels including five five-star hotels and two business hotels in Korea and a five-star hotel in Moscow.
As part of fulfilling its plans, Lotte Hotels & Resorts will focus on four national markets including Vietnam, Russia, Indonesia, and China. Mr. Song said, "After the Lotte Hotel Moscow was selected as one of the best hotels in Russia, many hotels in Ukraine and Kazakhstan have asked us to management their hotels."
The way the company manages the hotels will be the "master lease" type by which the management team dispatched from the headquarters supervises the whole management affairs under a standardized manual, just like global hotel chains such as Hilton and Hyatt do.
*Article provided by The Korea Economic Daily
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