LOTTE HOTEL Expands Global Operations with Launch of ‘L7’ Lifestyle Hotel Brand in Chicago | News

  • LOTTE HOTEL has acquired ‘Kimpton Hotel Monaco’ United States
  • Launch of the L7 brand, which is actively working to United States
  • A historic shot of ‘K-hotel’ connecting East(NYC)-Middle(Chicago)-Where is(Seattle)

Seoul, South Korea, January 25, 2022 /PRNewswire/ — The largest hotel group in South Korea, LOTTE HOTEL at finalized its contract for the acquisition of Hotel Kimpton Monaco located at 225 N Wabash Avenue, Chicago, United States to January 14and, 2022 (CST).

This was a joint investment with Korea Overseas Infrastructure & Urban Development Corporation which supports the global expansion of Korean brands and services, and around $36 million has been invested.

It was decided to operate under ‘L7’, a lifestyle hotel brand of LOTTE HOTELand is expected to open in the second half of 2023.

A lifestyle hotel refers to a boutique hotel equipped with fashionable interior and services. He seeks to offer guests a new lifestyle reflecting the local culture. Starting with ACE Hotel opened in Seattle in 1999 there was a lifestyle hotel boom around cities such as New York City and Los Angeles.

L7 HOTELS aims to be an “open space” filled with new experiences and inspirations under its slogan ‘a voyage of inspiration’. There is ‘L7 MYEONGDONG’, the first hotel under the L7 brand opened in 2016 in Myeongdong, the main tourist and shopping district of Seoul. He played a central role in introducing lifestyle hotelin the Korean hotel industry where business hotels were dominant.

Currently, three L7 HOTELS are in operation in Korea, offering an unparalleled ambience reflecting distinct local characteristics. By presenting for the first time in the industry combined entertainment promotions such as indoor driving range or mobile game match, or by offering collaborative events with fashion, beauty and culture brands, L7 HOTELS continues to provide state-of-the-art services.

Develop its activities in Americathe home of lifestyle hotel brands, is the part where LOTTE HOTEL’s strong belief in competitiveness and possibilities with the L7 brand could be observed. He should be able to help others expanding trust based on various brand portfolios.

Chicago Uniqueness is also seen as one of the crucial factors in the expansion of L7 HOTELS. It is one of the top tourist cities in the United States with 60 million annual visitors before COVID-19. The city is transforming into a dynamic city with booming start-ups and venture capital.

“Nicknamed the city of architecture, culture and jazz, Chicago has an attractive local culture, which makes it optimal for the expansion of L7 HOTELS,” said a spokesperson from LOTTE HOTEL’s head office. Sejin Ahnthe CEO of LOTTE HOTEL said, “We have made history in the Korean hotel industry by opening L7 CHICAGO in the city representing the center of the United States, following LOTTE NEW YORK PALACE to the East and LOTTE HOTEL SEATTLE in the West. Based on our brand portfolio, we plan to aim for global expansion.”

L7 CHICAGO is located in the city center Chicago, approximately 25 kilometers (30 minutes by car) from O’Hare International Airport. He is boasting great location while being inside 20-minute walk to major sights such as the Chicago River and Millennium Park.

It has a total of 191 rooms (including 22 suites), an F&B outlet and three banquet halls in its 13-story buildingand a renovation is planned to present L7’s unique lifestyle.

Meanwhile, LOTTE HOTEL currently operates 32 hotels in seven countries. With his Korean style hospitality service and brand portfoliothe hotel group meets the needs of different travelers – premium reference hotel “SIGNIEL”, high-end classic “LOTTE HOTELS”, lifestyle hotel “L7 HOTELS”, optimized for business “LOTTE City Hotels” and “LOTTE Resort” for family travelers.

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