Lotte New York Palace partners with Highgate to boost global standing

Lotte Hotels & Resorts announced Monday that the Lotte New York Palace has signed a strategic partnership with Highgate, a global hotel investment and management company.

Highgate, which takes over management of the Lotte New York Palace this month, is the largest hotel owner and operator in New York City. The company has previously managed prominent properties there, including the InterContinental New York Times Square, Public Hotel and The Lowe Hotel.

Under the partnership, the two companies will expand cooperation across hotel operations, global sales and distribution, technology and talent exchange. They plan to pursue joint operations and business expansion focused on the North American and Asian markets, drawing on each company's operational expertise and global networks.

The collaboration will also extend to hotel technology, including AI-driven revenue management systems, personalized customer service and operational efficiency. The two companies will also run cross-training and talent exchange programs for their employees.

Built in 1882, the Lotte New York Palace is a 909-room luxury hotel in the heart of Midtown Manhattan and one of New York's most recognized landmarks. Lotte Hotels & Resorts acquired the property in 2015 and, in December last year, purchased the hotel site from the Archdiocese of New York, securing a stable investment foundation. The partnership is expected to strengthen the company's position in the North American hotel market.

"Through our collaboration with Highgate, we will further enhance the global competitiveness of the Lotte New York Palace," a Lotte Hotels & Resorts official said.