Hotel Lotte, one of South Korea‘s leading hotel chains, said Tuesday it will seek more deals for managing overseas hotels to help expand its global reach.
Officials of the hotel said Tuesday that the firm is working on deals to manage hotels in the Yantai and Shenyang areas of China, in addition to those in Yangon, the former capital of Myanmar, and Russia‘s Samara, by 2018.
Lotte City Hotel Tashkent Palace (Yonhap)
Hotel Lotte previously outlined plans to operate up to 50 hotels across the world by 2020.
For the past 2 1/2 years, Hotel Lotte has successfully run a four-star hotel -- Lotte City Hotel Tashkent Palace -- in the Uzbekistani capital Tashkent on commission.
A senior manager at the hotel recently told local press that the hotel’s revenue in dollar terms rose more than five times under Lotte‘s helm.
Previously, the hotel had been mainly a magnet for tourists, but it now garners much popularity among businesspeople, according to the manager.
Due to the success of the Tashkent job, the South Korean hotel chain claims that it is now flooded with inquiries from foreign hotel owners, especially from China, about possible deals on commissioned management.