South Korea-headquartered Lotte Accommodations & Resorts has devised a brand new chief growth officer place for its Americas arm.
The primary incumbent of the position for Lotte Americas is the skilled Gustavo Sarago.
Actual property background
Sarago joins from AIG International Actual Property Investments the place he was senior vice chairman, head of hospitality and leisure group. At AIG, he was answerable for the sourcing, execution and oversight of a diversified portfolio of resort investments throughout North America.
He’s a graduate of the Faculty of Lodge Administration at Cornell College and resides within the New York Metropolis space.
For Lotte, Sarago will probably be answerable for rising the corporate’s assortment of way of life and luxurious manufacturers — Lotte, L7 and Signiel — all through the Americas with a give attention to gateway cities, tech centres and iconic resort locations.
Jim Petrus, CEO of Lotte Accommodations & Resorts Americas stated: “We’re thrilled to have Gustavo be a part of our group right here within the Americas. Gustavo’s ardour, enthusiasm and strategic pondering will play a key position in Lotte’s success as we additional develop the footprint of our nice manufacturers.”
Lotte at the moment owns and operates three accommodations within the Americas: Lotte New York Palace, Lotte Lodge Seattle and Lotte Lodge Guam. In early 2022, Lotte bought a property in Chicago, which it’s at the moment changing to L7—Lotte’s way of life model. L7 Chicago is anticipated to open in 2023. The agency is focusing on to develop its footprint by 25 properties over the following 5 years all through the Americas.
Lotte Accommodations & Resorts is the biggest resort group in Korea and at the moment has 34 accommodations globally with 11,200 rooms inside its three present resort manufacturers along with one other three accommodations within the pipeline, which can carry its room rely to 12,400.