Lotte Hotel Secures Full $300 Million Funding for New York Palace Site via Securities Firms

Lotte Hotel & Resorts has completed financing for the acquisition of the Lotte New York Palace hotel site. According to Radar M, Maeil Business Newspaper’s paid capital-markets outlet, in a report published at 08:58 on May 15, the full $300 million acquisition funding was raised with money from securities firms. The asset involved is the New York Palace Hotel site. The report said the financing method for this Lotte Group hotel-related asset transaction was finalized around securities-firm funds. With the financing completed, the site acquisition by Lotte Hotel & Resorts is now settled from a funding perspective. Source: mk.co.kr