Lotte Corporation of South Korea plans to buy a hotel and launch its Lotteria fast food chain in Vladivostok, the web site of the Russian East Development Ministry says.
Lotte Group, a South Korean company, has opened a five-star hotel in the center of the Russian city of St. Petersburg, a correspondent of Interfax reports today from the opening ceremony. As director of Lotte Hotels&Resorts in Russia, Young Seok, noted, first guests could check in the hotel as early as on May 31. The hotel has over 100 rooms of a lux category. Unique design solutions are applied in the project. In addition, there will be a restaurant with Korean cuisine for the hotel’s guests. The hotel is located in the center of St. Isaac's Square, in a mansion of Yakunchikova – a building dating back to 1849, which is a monument of architecture.
On Wednesday, Lotte, a South Korean hotel operator, opened a five-star hotel in the center of Saint Petersburg. The investments in the project amounted to about 120 million dollars.
Lotte Group will open a luxury hotel in the centre of Saint Petersburg in May 2017 investing $120 mln. Director of Department of Lotte Hotel Saint Petersburg LLC Cho Chang Yong announced this information at the Investment Council’s meeting.
South Korea’s Lotte Group may open a hotel in Samara for the 2018 FIFA World Cup. A corresponding announcement was made today by Song Yongdok, President and CEO of Lotte Hotels and Resorts, at the Eastern Economic Forum.
“We are planning to take under control another hotel in Russia, Samara, for the Football World Cup in 2018,” he said.
“When it /hotel/ is built, we will manage it,” Song Yongdok explained to TASS.
According to Mr. Yongdok, Lotte’s plans are to build a hotel in Saint Petersburg, purchase Atrium shopping center in Moscow and launch a new manufacturing line at the confectionery factory in Obninsk, Kaluga Region.
Song Engdok noted that negotiations concerning the Atrium’s purchase are still in progress. The price of purchase may reach $400-500 mln, he mentioned to TASS.
“We have no specific plans for project in Vladivostok and the Far East in general right now,” he said. “But we pay a lot of attention to the region and are willing to invest here.”
The company announced in 2014 that it was planning to open up a luxury Lotte Hotel in Saint Petersburg in 2017 with total investment amount of $140 mln. In February this year, Korean media reported that Lotte may purchase Atrium mall near Kurskaya metro station in Moscow.
Lotte Group’s portfolio in Russia includes a multiservice center in Novinsky Bulvar, a five-star Lotte Hotel Moscow and a confectionery factory Lotte Confectionery.
Company's website: www.lotte.com
Contact: Dong-bin Shin, President
Lotte Group is the largest South Korean conglomerate founded in Seoul in 1967 that incorporates over 60 companies of different business dimensions.