Strategic partnership to expand collaboration across North America and Asia

[Provided by Lotte Hotels & Resorts]
[Provided by Lotte Hotels & Resorts]

Lotte Hotels & Resorts announced Thursday that the Lotte New York Palace Hotel has entered into a strategic partnership with Highgate, a global hotel management and investment firm.

Highgate, which takes over operations of the Lotte New York Palace this month, is the largest hotel owner and operator in New York City. The firm has managed prominent properties across the city, including the InterContinental New York Times Square, Public Hotel and The Lowe Hotel.

Under the partnership, the two companies will expand cooperation across hotel operations, global sales and distribution, technology, and talent exchange. They plan to pursue joint operations and business expansion focused on the North American and Asian markets, drawing on each company's operational expertise and global networks to strengthen competitiveness.

Collaboration will also extend to hotel technology, including AI-based revenue management systems, personalized customer service and operational efficiency. The two companies will also run cross-training and talent exchange programs for their employees.

Built in 1882, the Lotte New York Palace is a 909-room luxury hotel in the heart of Midtown Manhattan and one of New York's most recognized landmarks. Lotte Hotels & Resorts acquired the property in 2015 and in December last year purchased the hotel site from the Archdiocese of New York, securing a stable investment base. The partnership is expected to further solidify the company's position in the North American hotel market.

"Through our collaboration with Highgate, we will further strengthen the global competitiveness of the Lotte New York Palace Hotel," a Lotte Hotels & Resorts official said.


siuu@heraldcorp.com