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«    March 2018    »

South Korean Lotte intends to open $120m hotel in St Petersburg

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South Korean Lotte intends to open $120m hotel in St Petersburg

Lotte, a South Korean hotel operator, intends to open a hotel of a luxury class in May 2017, a director of Lotte’s branch in Saint Petersburg in Russia, Cho Chang Jong, said on Monday at a session of the Investments Council under the city’s Governor.

The project is estimated at $120 million. The hotel, located in a building under reconstruction, will have 154 rooms, restaurants, bars, spa centers.

As a reference, Lotte Group is a major South Korean conglomerate founded in 1967 in Seoul. It unites over 60 companies operating in diverse areas, including a hotel business and a chain of duty free shops. In Russia, the company built Lotte Plaza business center in Moscow, as well as a five-star Lotte Hotel Moscow in the capital city of Russia.

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