NEW YORK—Lotte Hotels & Resorts, a South Korea-based owner and operator of luxury hotels, has relaunched The New York Palace, an iconic hotel here in midtown Manhattan, as Lotte New York Palace. The hotel is the group’s first hotel acquisition in North America.
“We are pleased to be continuing our global expansion by entering the North American market with such a prestigious landmark property,” said Yongdok Song, CEO of Lotte Hotels & Resorts. “We look forward to sharing our dedication to unparalleled service and luxury with The Palace’s loyal clientele, as well as with many new guests from across the globe in the future.”
Additionally, the group will introduce the property’s new branding in conjunction with its relaunch in September. The hotel’s new name and logo aims to celebrate its Lotte affiliation, while preserving its identity and history, according to the company.
Currently, the group operates 18 properties across five countries globally, and has 16 additional properties in the pipeline.