Lotte Hotels & Resorts announced on the 2nd that it will establish a joint venture (JV) 'Lotte Hotels Japan' with Japan's Lotte Holdings.
The ceremony to commemorate the establishment of the joint venture held in Shinjuku, Tokyo, featured Jeong Ho-seok, the representative of Lotte Hotels & Resorts, Tamatsuka, the representative of Lotte Holdings, and Fukui, the representative of Lotte Hotels Japan, among others.
This joint venture was established to strategically expand the hotel business in Japan based on the assets and know-how possessed by the Lotte Group in both Korea and Japan.
Lotte Hotels & Resorts, which operates 39 global chain hotels, plans to make Japan a new growth hub.
It plans to actively utilize the hotel operation system accumulated over the past 50 years, service solution know-how, and specialized IT system capabilities for integrated booking and channel management.
Additionally, through a global membership program that connects Lotte Hotels & Resorts worldwide, it aims to enhance competitiveness while providing various customer benefits.
Currently, Lotte Hotels & Resorts operates Lotte Arai Resort in Japan, while Lotte Holdings is managing Lotte City Hotel Kinshicho. The joint venture is expected to start by jointly supporting the operations of these two hotels and assume responsibility for new hotel development and integrated operational management.
Jeong Ho-seok, the representative of Lotte Hotels & Resorts, said, "By expanding the brand lineup to meet the needs of various customers and implementing an 'asset-light' strategy centered on franchising and consignment management, we will accelerate entry into major cities around the world. Furthermore, based on the hotel operation know-how accumulated in the Japanese market, we aim to broaden our presence and become Asia's top global hotel operator within the next 10 years."
Fukui, the representative of Lotte Hotels Japan, also noted, "Lotte Hotels Japan takes 'well-being management' as its core value, breathing alongside customers and local communities in Japan, and aims to establish itself as a hotel that not only provides simple accommodation but also brings life-changing experiences and inspirations through a variety of wellness programs encompassing physical, mental, and social aspects."