Lotte Hotel Targets Overseas Markets with 'L7'... "Aiming to Capture MZ Generation"

L7 Chicago delayed due to COVID-19... Opening in the second half of next year
Final works at L7 Westlake Hanoi progressing smoothly

Lotte Hotel is accelerating its overseas market expansion by leveraging its lifestyle brand 'L7'. Following the opening of its first overseas branch near West Lake in Hanoi, Vietnam on the 28th of this month, the second overseas branch will open in Chicago, USA, in the second half of next year. Going forward, Lotte Hotel plans to continue aggressive overseas expansion with its unique lifestyle brand, L7.

L7 Gangnam Exterior View
[Photo by Lotte Hotel]

According to Lotte Hotel on the 14th, the 'L7 Chicago,' originally scheduled to open in the second half of this year, is now expected to open in the second half of next year due to internal construction delays caused by COVID-19 and other factors. In January last year, Lotte Hotel jointly invested with KIND (Korea Overseas Infrastructure & Urban Development Corporation) to acquire the 'Kimpton Hotel Monaco' in Chicago for $36 million (approximately 45.9 billion KRW). The Kimpton Hotel Monaco will continue operations in the building until this year, after which rebranding work to transform it into the L7 brand will begin next year. Lotte Hotel expects the internal interior construction and inspection work to be completed by the end of next year.

'L7 Westlake Hanoi,' set to open its first overseas branch on the 28th, is currently in the final stages of preparation. Most of the internal construction has been completed, and final simulation work and internal inspections are underway to welcome guests. L7 Westlake Hanoi is located within the 'Lotte Mall Westlake Hanoi,' which is situated on a 73,000㎡ (approximately 22,000 pyeong) site in the Bo Chi Cong area near West Lake. Lotte Mall Westlake Hanoi is a complex commercial district featuring various facilities including a hotel, department store, mart, cinema, and aquarium. When the building officially holds its grand opening in September this year, it will become the largest complex commercial district in Vietnam.

Going forward, Lotte Hotel plans to actively continue the overseas expansion of the L7 brand in line with the increased hotel demand from the MZ generation (Millennials + Generation Z). L7 currently operates three locations domestically: 'L7 Myeongdong' launched in 2016, 'L7 Gangnam' in 2017, and 'L7 Hongdae' in 2018. In the second half of next year, 'L7 Haeundae' will open in Haeundae-gu, Busan. L7 is Lotte Hotel’s only lifestyle brand, characterized by unique interiors and services favored by the MZ generation.

A Lotte Hotel representative said, "Although L7 is the brand launched the latest among Lotte Hotel brands, interest and demand for hotels among younger generations have recently increased significantly, making it one of the key brands we are focusing on internally. Starting with Hanoi and Chicago, we plan to actively pursue overseas market expansion going forward."

This content was produced with the assistance of AI translation services.