Hotel Lotte appoints hospitality expert Kim Tae-hong as new CEO

Kim Tae-hong, head of CL business at Lotte Hotels & Resorts [Courtesy of Hotel Lotte]

Kim Tae-hong, head of CL business at Lotte Hotels & Resorts, a luxury hotel chain operated by Lotte Hotel Co., has been appointed as the new chief executive officer (CEO) of Lotte Hotel.

South Korea’s Lotte Group held an ad-hoc board meeting on Thursday and approved the appointment of Kim. The top position had been vacant following the resignation of Lee Wan-shin on July 12.

Kim, who joined Lotte Hotel in 1993, is an expert in hotel management with 30 years of expertise in various areas ranging from finance to planning and sales.

The experiences that Kim has built in the hospitality sector while serving in different leadership positions, including general manager of Lotte Skyhill Country Club and head of Lotte Hotel in Russia , encompasses overseas hotels, resorts, and golf course operations.

Given such extensive background, Kim is seen as the ideal to generate synergies for Lotte Hotel, especially since it underwent a relaunch by merging its hotel and resort divisions earlier this year.

With broad experiences in hotel management, Kim is expected to accelerate the company’s entry into global markets.

“Under the new leadership, business schemes, such as the launch of senior-only residence, will gain momentum, with a focus on asset-light business strategies,” said an unnamed official from the hotel chain.