Lotte Group to invest $140 million in construction of St. Petersburg hotel

The Korean Lotte Group, the owner of the Lotte Hotels & Resorts hotel group, is set to open a new hotel in St. Petersburg in 2017. Shin Dong Bin, chairman of the board of the company, says the project will provide visitors and residents of St. Petersburg with a "top-tier classic luxury hotel." An investment of $140 million will go into the hotel's construction, and it will be situated near Saint Isaac's Square, on the location of Yakuchikova's mansion.

The House of Yakunchikova was constructed in 1849 for Maria Yakunchikova, an honorary citizen of St. Petersburg. The building design was drawn up by the French architect Adrian Robin and, as the historical records say, approved by Nicolas I. Celebrities including John Quincy Adams, the first U.S. ambassador to Russia and later the sixth U.S. president, and the Russian writer Nikolai Gogol lived here at different times. The building's historical front face and its walls will be preserved by architects, while the inner layout will be modified in accordance with a unique new design. This will be the company's second hotel in Russia.

The company's first hotel in Moscow, Lotte Hotel Moscow, has earned numerous awards during the four years of its operation. It was named the best hotel in Europe by the French Prix Villégiature Awards, the jury of which is composed of 23 journalists from top international media, and it was also named the best city hotel in Russia by Conde Nast Traveller Russia — nothing short of an Oscar in the tourism industry. In January 2015, Lotte Hotel made it onto the list of the best European hotels, ranking 5th among the best luxury hotels in Europe.