IN NEW YORK CITY, one of its grande dame hotels has reached a new pinnacle.
The revered New York Palace, widely known simply as The Palace, first opened its opulent doors in the 1980s when Leona Helmsley — the so-called “Queen of Mean” — unveiled the 55-story tower built atop a historic Midtown Manhattan landmark.
It immediately attracted attention: headlines, gossip and a reputation for extravagance.
Over the years, celebrities, influential businesspeople and world leaders have frequented the storied hotel, which retains hand-carved ceilings, polished marble floors, gold accents and a sweeping staircase worthy of a film set. Michael Jackson was among the regulars; David Shenman, director of sales and marketing for Lotte New York Palace, recalls that Jackson’s iconic jacket was inspired by the hotel’s bellman uniform.
In 2015 LOTTE Hotels & Resorts, part of the South Korean conglomerate The Lotte Group, acquired the 909-room property on Madison Avenue for a reported $805 million and rebranded it as the Lotte New York Palace. A subsequent $140 million renovation refreshed guestrooms, public spaces and amenities, restoring the hotel’s status among New York’s luxury addresses.
The Lotte Group, founded in 1948, is one of South Korea’s largest business groups, encompassing duty-free retail, food and beverage operations and a global hotel portfolio. Shenman says the purchase was intended to introduce Lotte’s hospitality to millions of New Yorkers and visitors, showcasing a brand that is household-name in Korea but relatively new to the U.S. market.
Lotte New York Palace hotel entrance at night © LOTTE HOTELS & RESORTS
General manager Becky Hubbard has said the new ownership brought deep affection for the property and a desire to excel. For Lotte, hotels are the visible face of the company, and that focus is evident in service and presentation.
Today Lotte’s hospitality division operates numerous properties across Korea and internationally. The company’s name, inspired by Charlotte from Goethe’s The Sorrows of Young Werther, reflects an ambition to create meaningful experiences. Lotte’s stated mission centers on providing guests with a more abundant life and a promising future.
The Lotte New York Palace emphasizes personalized service and curated experiences, with many long-tenured staff members who remember the hotel’s earlier era. Shenman notes strong employee loyalty, with a number of team members celebrating decades of service.
Guests benefit from premium amenities: the hotel offers chauffeured rides within an approximate 20-block radius in a Maybach, and each evening the Palace Hour draws visitors to the marble lobby lounge for hors d’oeuvres and special surprises, which have included tickets to Radio City Music Hall across the street.
The Palace also serves as a hub for local and civic engagements. During the Obama administration, the hotel became an official choice for the U.S. president in New York City, and in 2015 it was selected as a preferred hotel for government delegations during the U.N. General Assembly.
Partnerships with iconic New York institutions enhance the guest experience: collaborations with the New York Yankees, Radio City Music Hall and the Rockettes create themed packages and special events. Entertainment offerings include free live jazz on Monday and Tuesday evenings in the lobby lounge and weekend magic performances by celebrated illusionist Steve Cohen in the Madison Room.
Shenman says the goal is to create singular Palace moments through seasonal programming — from Mother’s Day to holiday celebrations — that give guests lasting memories.
On the global stage, Lotte leverages popular culture to connect with audiences. The company has tapped K-Pop ambassadors such as VIXX, Rain and Boyfriend in promotional campaigns for various properties. While The Palace itself does not currently feature a K-Pop ambassador, Shenman emphasizes that the hotel focuses on crafting its own brand of magic for visitors.
L7 Myeongdong © L7 MYEONGDONG
L7 HOTELS
Demographic: Trend-conscious travelers who enjoy social, design-forward spaces and shareable moments.
Offerings: A blend of comfort and high-tech amenities, currently operating several locations in Korea.
Highlight: L7 Gangnam captures the district’s energetic vibe with a floating bar, a pergola and fire pit, plus a celebrity DJ and a lively atmosphere ideal for social gatherings.
LOTTE CITY HOTELS
Demographic: Business travelers seeking convenience, consistent service and thoughtful amenities.
Offerings: Primarily located in Korea, with properties in cities such as Ulsan, Jeju and Seoul, and one location in Uzbekistan.
Highlight: Lotte City Hotel Tashkent Palace blends Old World Uzbek charm with modern comforts near cultural attractions and markets.
LOTTE HOTELS
Demographic: Luxury corporate and leisure travelers looking for landmark properties in premier locations.
Offerings: Properties across Korea, the United States, Russia, Vietnam and Myanmar that emphasize prestige, craftsmanship and elevated service.
Highlight: The Towers at Lotte New York Palace offer sweeping views of St. Patrick’s Cathedral and the illuminated Rockefeller Center, showcasing Manhattan’s skyline.
LOTTE RESORTS
Demographic: Families and leisure guests seeking relaxation, recreation and scenic escapes.
Offerings: Resort destinations in Korea and Japan with activities ranging from beach relaxation to skiing.
Highlight: Lotte Resort Sokcho, perched above the sea in Gangwon Province, features ocean-view rooms, a water park and family-friendly policies such as free stays for children under 13.
SIGNIEL Seoul © SIGNIEL SEOUL
SIGNIEL
Demographic: Discerning travelers who expect the highest level of luxury and bespoke service.
Offerings: SIGNIEL Seoul, a 235-room flagship property opened in 2017, represents Lotte’s pinnacle of service and attention to detail.
Highlight: Exceptional amenities include curated food and beverage experiences, panoramic views of the Han River and Seoul, and ultra-luxury services such as helicopter transfers and Michelin-level dining options.