Lotte Group of South Korea buys iconic New York Palace Hotel

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  1. uggboy
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    South Korea's Lotte Group buys New York hotel for $805 million

     
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  2. uggboy
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    UPDATE:

    It's official...


    New York Palace Hotel sold to Korea’s Lotte for $805 million

    Having acquired the former New York Palace, Lotte Hotels & Resorts will reopen the midtown Manhattan property, rebranded as Lotte New York Palace.

    The 55-story hotel is located within walking distance of Central Park, St. Patrick’s Cathedral, and Rockefeller Center. Northwood Investors sold the hotel to the South Korea-based company for $805 million after purchasing it from the Brunei Investment Agency in 2011 for $400 million.

    http://www.cpp-luxury.com/new-york-palace-hotel-sold-to-koreas-lotte-for-805-million/
     
  3. uggboy
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