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March 8, 2015

Lotte Group to invest $140m in new Russian hotel

South Korea-based Lotte Group has announced plans to invest $140m to construct a new hotel in Saint Petersburg, Russia, which will be its second in the country.

Lotte Hotel Moscow

South Korea-based Lotte Group has announced plans to invest $140m to construct a new hotel in Saint Petersburg, Russia, which will be its second in the country.

Set for opening in 2017, the proposed hotel will be situated near Saint Isaac’s Square on the location of Yakuchikova’s mansion.

The House of Yakunchikova was constructed in 1849 for Maria Yakunchikova, an honorary citizen of Saint Petersburg.

The new hotel by Lotte will preserve the building and historical front face and walls of the building originally designed by French architect Adrian Robin, while the inner layout will be modified in accordance with a new design.

Lotte Group chairman of the board Shin Dong Bin said that the project will provide a top-tier classic luxury hotel to the visitors, as well as residents of St Petersburg.

Lotte Group previously constructed a 300-room Lotte Hotel Moscow, which opened in September 2010. It offers the largest Royal Suite on the continent, with Les Menus and MEGU restaurants.

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Lotte Group comprises more than 74 enterprises operating in such industries as confectionery, fast food, finance, electronics, construction, trade, publishing, hospitality and entertainment.


Image: The 300-room Lotte Hotel Moscow. Photo: courtesy of Igor508.

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