Korea’s LOTTE to launch hotel, serviced apartments in Yangon


Korea’s LOTTE group will launch its awesome resort hotel and serviced apartments in Yangon on September 1 beside the picturesque Inya Lake in its march to become one of Asia’s formidable business conglomerates.

Founded by Korean businessman Shin Kyuk-ho in Japan in 1948, LOTTE expanded into South Korea in 1967 with a range of confectionery products.

It is now South Korea’s fifth largest business conglomerate but looks all set to surpass many others with a huge presence in finance, retail, petro-chemicals, electronics, hotels and tourism.

On September 1, the LOTTE launches its hotel and the serviced apartments block besides the picturesque Inya Lake, establishing its presence in Myanmar.

“Myanmar is an emerging market and our presence here is overdue,” said Mikon, LOTTE Hotels & Resorts marketing director.

“And now we are here with a bang. Our Hotels & Serviced Apartments are clearly a unique offering covering all range of visitors to Yangon,” she said.

Located near the Shwedagon Pagoda and to the west of Inya Lake, that gives those staying in the hotel a picturesque view of both, LOTTE’s location will be the envoy of competitors and the delight of those who choose to stay there.

The LOTTE hotel has 30 suites including a Presidential Suite and a Royal Suite on the 13th floor that gives the best view of Inya Lake and Shwedagon.

A range of large to small banquets and a variety of restaurants add muscle to the hotel’s offering.

“This must be one of the biggest investments in Myanmar’s hotel industry in recent years and proves Yangon is becoming a happening city,” said regional analyst Subir Bhaumik.

Agreed actor and TV anchor Tay Zar Kyaw: “The whole property is so well located and comes across as phenomenal. One also gets the unending feeling in the lobbies because they are huge.”

The 343 room hotel with five type of rooms and as many types of suites and the 315 serviced apartments with a range from one-bedroom to four-bedroom varieties offer a wide range of facilities from fitness centre to indoor and outdoor swimming pools to Jacuzzi, steam and sauna bath.

“Those using the serviced apartments will get to use the hotel facilities like the fitness centre and swimming pools,” said Mikon.

With both tourist inflow and foreign direct investment in Myanmar on the rise, something like the LOTTE Hotels and Serviced Apartments was just about overdue.

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