[THE INVESTOR] Hotel Lotte, Korea’s largest hotel chain, said on Sept. 10 it has opened a new hotel in Yangon, Myanmar, as part of its global expansion strategy.

Lotte Hotel Yangon started operations in the largest city in the Southeast Asian country as the Korean firm’s eighth overseas location.

Lotte has expanded its hotel chain overseas as part of efforts to generate a new growth engine amid the nearly saturated domestic market.

I currently owns hotels in Moscow, Hanoi, Tashkent, Guam and New York.

By Alex Lee and newswires (alexlee@heraldcorp.com)