Lotte Holdings and Hotel Lotte have established a hotel operating company in Japan, LOTTE HOTELS JAPAN.
The new company was founded in February, with Lotte Holdings and Hotel Lotte as its principal shareholders. It has capital of 250 million yen. Tomoya Fukui, who also serves as Representative Director of Lotte City Hotels and LOTTE Hotel Arai, has been appointed President and Representative Director.
The group entered the hotel business in 1973 by establishing Hotel Lotte in South Korea. In 1979, it opened Lotte Hotel Seoul and now operates 39 hotels in seven countries worldwide.
In Japan, it already operates two properties: Lotte City Hotel Kinshicho and Lotte Arai Resort. In addition to directly managed properties, the company plans to expand primarily through a management-contract model—in which property owners retain real estate ownership while the new company handles operations—aiming to operate 20 hotels with 4,500 rooms in Japan by 2034.
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