NEW YORK
LOTTE Hotels & Resorts announced the relaunch of The New York Palace, an iconic luxury hotel in midtown Manhattan, as LOTTE New York Palace.
LOTTE Hotels & Resorts, a Korea-based owner and operator of luxury hotels, assumes its ownership of the property as of August 28, 2015, marking 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, LOTTE Hotels & Resorts. "We look forward to sharing our dedication to unparalleled service and luxury with The Palace's loyal clientele.”
LOTTE Hotels & Resorts will also introduce the property's new branding in conjunction with its relaunch as LOTTE New York Palace this month. The hotel's new name and logo celebrates its LOTTE affiliation while preserving its distinctive identity and longstanding history in New York.
LOTTE Hotels & Resorts is currently in operation of 18 properties across five countries globally, and has 16 additional properties in the pipeline. It is ranked number 1 in the Korean lodging market.
The hotel features 30,000 square feet of flexible meeting space.
