Lotte Group Chmn. Shin Invests Big in United States
Grand opening of Lotte Hotel Seattle is the third hotel Lotte Hotel & Resorts has opened in the United States
Lotte Group Chairman Shin Dong-bin. (Photos: Lotte Group)
Lotte Hotel & Resorts opened Lotte Hotel Seattle in downtown Seattle on Sept. 24. Lotte Hotel Seattle is the third hotel that Lotte Hotel has opened in the United States, following Hotel New York Palace and Lotte Hotel Guam.
It is the 12th overseas hotel established or operated by Lotte Hotel & Resorts.
The grand opening of Lotte Hotel Seattle completed the hotel chain stretching across the U.S. continent, following the establishment of Lotte New York Palace, a Lotte Hotel & Resorts official said.
Lotte Hotel & Resorts and Hana Financial Investment acquired Hotel at the Mark, a 44-story building located in downtown Seattle. Hotel at the Mark underwent a renewal to be renamed as Lotte Hotel Seattle. Lotte Hotel Seattle accommodates a total of 189 rooms on first floor through 16th floor, including 33 suite rooms.
A breath-taking view of Lotte Hotel Seattle in downtown Seattle, which was opened in downtown Seatle on Sept. 24.
Lotte Hotel Seattle is operated on commission by Lotte Hotel & Resorts. Lotte Hotel Seattle is the fourth hotel to be operated on commission by Lotte Hotel & Resorts across the world following Lotte City Hotel, Tashkent Palace, Lotte Hotel Yangon, and Lotte Hotel Samara in Russia.
The opening of Lotte Hotel Seattle comes as Lotte Group Chairman Shin Dong-bin stressing the importance of advanced foreign markets during year’s New Year’s message.
At that time, Chairman Shin called for the company to secure the upper hand in a fiercely competitive market by offering values surpassing customers’ needs and expectations. He emphasized the need for the establishment of detailed strategies to tap the advanced foreign markets.
Lotte Group has so far been expanding businesses such as logistics and hotel sectors to East Asian and Southeast Asian regions, including China, Vietnam, and India. But these areas have seen lower growth levels due to geopolitical risks.
As a result, Lotte Group is analyzed to have shifted into a two-track strategy of entering foreign markets: exploring advanced countries and emerging countries at once.
Business performances of Lotte Hotel Guam and Lotte New York Palace are not good due to lower occupancy rate, caused by the spread of the COVID-19 pandemic.
In particular, Lotte Hotel Guam suffered a setback due to the effects of the pandemic as Koreans take up a 70 percent portion among occupants and Japanese account for 20 percent.
Even though it is not certain when the pandemic is over, Lotte Hotel and Resorts opened Lotte Hotel Seattle as preparations such as reservation and educating staff have been completed.
The grand opening of Lotte Hotel Seattle, originally scheduled for June, was reset to Sept. 24. Thanks to near offices of global companies such as Microsoft, Amazon, Starbucks, Apple, Walt Disney and HP, Lotte Hotel Seattle is expecting sustainable business demand, Lotte Hotel officials said.
Lotte Hotel & Resorts President David H.S. Kim said, “Lotte, marking its 10th anniversary of overseas market entry, has completed crossing the U.S. continent.” Lotte Hotel & Resorts will devote itself to enhancing the global standing the hotel brand by spreading Korean services, he said.
Lotte Hotel Seattle, where the present and the past coexist, has become another attraction of downtown Seattle. The hotel houses The Sanctuary, America’s first United Methodist Church. The Sanctuary is famous for its pipe organ and stained-glass interior and is one of the oldest pieces of beaux-art architecture in America.
Lotte Hotel Seattle’s entire facade is a beautiful array of stained glass that reflects the buildings around it, shedding a special light on the Seattle skyline. The hotel features 189 artistic and modern guest rooms alongside a private cocktail lounge and signature restaurant.
Also not to be forgotten are the individually and uniquely designed conference rooms, the concierge service, the latest facilities, and, of course, the spa.
Lotte Hotel Seattle is located on 5th Avenue and Marion Street in the heart of downtown Seattle, just minutes away from the Space Needle, Pioneer Square, Seattle Central Library, the Sky View Observatory at the Columbia Center, and the Seattle Art Museum.
Tourist attractions such as the Pike Place Market, Waterfront, the Gum Wall, Seattle Underground, premium shopping malls, and popular restaurants are also only a 10-minute walk away.