|Lotte Hotels and Resorts took over the New York Palace in 2015. / Courtesy of Lotte Hotels and Resorts|
By Kang Seung-woo
Lotte Hotels and Resorts, Korea's largest hotel chain, has expanded its presence in the U.S. market with its Lotte New York Palace which become one of the top 20 properties for the holiday season.
According to the Forbes Travel Guide, released last week, the Lotte New York Palace made it onto its list of the 20 Places to Celebrate the Holidays.
In 2015, Lotte took over the historic hotel that was built in 1882.
"There's nowhere quite like The Big Apple during the holidays, and this elegant Four-Star tower wants to help you experience the magic in style," Forbes said.
It also suggested that visitors snap a selfie or two in front of the property's spectacularly decorated tree.
Along with the New York Palace, the Four Seasons Hotel Sydney, the Mandarin Oriental, Munich and the Park Hyatt Chicago were among others in the list.
Since Lotte acquired it three years ago, the New York Palace has steadily gained recognition in one of the most competitive hospitality markets in the world.
Former U.S. President Barack Obama chose the Lotte Hotel over the Waldorf Astoria that used to house his predecessors during his visit to Manhattan for the U.N. General Assembly in 2015.
In addition, it hosted a summit between President Moon Jae-in and his U.S. counterpart Donald Trump and a meeting between Japanese Prime Minister Shinzo Abe and Trump last September.
In April last year, Forbes also selected the hotel as one of the 21 hot hotels around the globe and U.S. News and World Report ranked it as the third-best hotel in New York City in February.
"It is a huge honor that Lotte Hotel is gaining recognition in New York City, where global hotel chains flock," said its CEO Kim Jung-hwan.
"We are set to concentrate more efforts on leaping ahead as a global hotel brand."