L7 Chicago BY LOTTE

What L7 Chicago BY LOTTE does

L7 Chicago BY LOTTE is a 191-room, full-service luxury hotel located at 225 N. Wabash Avenue in downtown Chicago's Loop, overlooking the Chicago Riverwalk. The property opened in 2024 when Lotte Hotels & Resorts acquired the former Hotel Monaco and rebranded it as the first L7-branded property in North America, building on the heritage of a 14-story landmark originally constructed in 1912. The hotel blends Korean-inspired hospitality traditions (refreshing arrival towels, curated local art, a Krave Station with complimentary coffee and snacks) with Chicago-specific amenities, including 4,100+ sq ft of event space (Paris Ballroom, Athens, Seoul), Molekule air purification in every room, built-in water filtration at every faucet, in-room wellness baskets, and the on-site Perilla Korean American Steakhouse operated by a Michelin-recognized culinary team.

The core product offering comprises seven room and suite categories (King Deluxe, King City View, King River View, 2 Queen Deluxe, 2 Queen River View, One Bedroom Suite, and One Bedroom River View Suite) priced via a quote-based model through the SynXis booking engine on l7chicago.com. Revenue is generated across four primary streams: guest room bookings (the principal stream), food and beverage at Perilla plus in-room dining, meetings and events (subject to Minimum Food & Beverage Revenue Commitments), and ancillary transactions such as valet parking ($69/night) and the 24/7 L7 Pantry. Distribution is direct-to-consumer-led, anchored by a Best Rate Guarantee (with an additional 10% off if a lower qualifying rate is found within 24 hours), supported by the reservations phone line, a dedicated meetings microsite, OpenTable for restaurant bookings, and OTA channels.

The property operates as a wholly-owned asset within Lotte Hotels & Resorts, managed by Lotte Hotel Co., Ltd. as agent for the owners, with no public listing or independent venture backing evident in the source material. Target customer segments span curious experiential leisure travelers, corporate and business event planners, wedding and social event guests, pet-owning travelers, and extended-stay guests, supported by distinct promotional packages (Stay Longer Save More, Bed & Breakfast, Curious Traveler, Art in the City, Stay & Valet, AAA, Advance Purchase). The technology stack is modern but conventional (SynXis PMS, SiteImprove accessibility monitoring), with no disclosed AI/ML capabilities.

Name

L7 Chicago BY LOTTE

Legal name

L7 Chicago by Lotte

Website

https://l7chicago.com

Company type

Private

Founded year

2024

Operating status

Operating

Headcount range

11–50 employees

Short description

L7 Chicago BY LOTTE is a 191-room luxury hotel in Chicago's Loop opened in 2024 by Lotte Hotels & Resorts as the first L7-branded property in North America, serving leisure travelers, corporate events, and weddings with Korean-inspired hospitality, on-site Perilla steakhouse, and event space.

Ownership category

akta.pro rank

Product category

Luxury Hotel and Hospitality Services

NAICS

Hotels (except Casino Hotels) and Motels (721110)

SIC

Hotels & Motels (7011)

akta.pro primary industry

Urban & Downtown Full-Service Hotels (THAGAAAA)

Keywords

• Luxury hotel accommodation
• Boutique hospitality services
• Meeting event venues
• Korean American dining
• Wellness hotel amenities

Headquarters

HQ city

Chicago

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Supply Chain

Revenue model

1. Guest Room and Suite Bookings: Primary revenue stream from overnight accommodation across 191 guest rooms and suites. Room types include King Deluxe Room (330 sq ft), King City View Room (320 sq ft), King River View Room, 2 Queen Deluxe Room (380 sq ft), 2 Queen River View Room, One Bedroom Suite (575 sq ft), and One Bedroom River View Suite. Valet parking available at $69 per night with unlimited in-and-out privileges. Bookable directly via website, SynXis engine, or phone reservations.
2. Perilla Korean American Steakhouse F&B: On-site restaurant operated by the Michelin-recognized Perilla team, serving Korean American fusion cuisine with table-side grills. Offers breakfast (weekdays 7–11am, weekends 8–11am), dinner, and private dining rooms. In-room dining delivered during restaurant hours. Revenue from food covers Minimum Food & Beverage Revenue Commitments for group events.
3. Meetings and Events Venue Rental: More than 4,100 sq ft of flexible meeting and event space including the Paris Ballroom (2,700 sq ft, pillar-free, up to 300 guests), Athens (960 sq ft, up to 80 guests), and Seoul (487 sq ft, up to 20 guests). Revenue is subject to Minimum Food & Beverage Revenue Commitments and Meeting Room Revenue Commitments for confirmed bookings. Full in-house catering and end-to-end planning services included.
4. Pantry and Grab-and-Go: 24/7 L7 Pantry offering grab-and-go snacks, beverages, and exclusive L7 branded products available for purchase in-room.
5. Event Deposits and Cancellation Charges: Group event bookings require advance deposits and are subject to attrition charges (75% of deficit) and cancellation penalties (100% within 10 days, 85% from 11–30 days prior). Billing interest of 1.5% per month on overdue accounts.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels8 records

Core offering

L7 Chicago BY LOTTE operates a 191-room luxury hotel in downtown Chicago's Loop offering overnight accommodation across seven room and suite configurations with on-site Korean American dining at Perilla steakhouse and 4,100+ sq ft of event space. The property delivers wellness-integrated stays through proprietary in-room technologies and Korean-inspired hospitality rituals including a complimentary Krave Station, refreshing arrival towel, and curated Chicago art.

Product overview

L7 Chicago BY LOTTE is a 191-room pet-friendly hotel property in downtown Chicago's Loop, offering a unified hospitality experience combining Korean-inspired luxury accommodations with diverse dining and event services. The product portfolio includes seven distinct room and suite types (King Deluxe Room, King City View Room, King River View Room, 2 Queen Deluxe Room, 2 Queen River View Room, One Bedroom Suite, One Bedroom River View Suite) with features like Molekule air purification, in-room water filtration, wellness amenities, and curated art by local Chicago artists. The on-site Perilla Korean American Steakhouse provides Korean-American dining with table-side grills. For events, the hotel offers over 4,100 sq ft of flexible meeting space including the 2,700 sq ft pillar-free Paris Ballroom, Athens room, and Seoul room. The Krave Station provides complimentary refreshments. Additional offerings include various packages (Curious Traveler with train pass, Bed and Breakfast, Stay Longer Save More with 20% discount, Art in the City, Stay & Valet) and wellness amenities including yoga mats, fitness center access, and in-room wellness baskets.

Differentiator

Problem solved

Functional benefit

Products and services

• King Deluxe Room 330 sq ft guest room accommodating up to 2 guests with free WiFi, in-room wellness basket (yoga mat, weights, stretch bands, massage balls), Nespresso machine, Molekule air filter, in-room water filtration, 55-inch LCD TV, Frette linens, Apotheke bath amenities, and 24-hour Fitness Center access.
• King City View Room 320 sq ft guest room with large bay windows, Nespresso machine, and panoramic city views, adorned with contemporary artwork by Chicago artists Angela Finney and Sarah Leutchner.
• King River View Room Guest room featuring Chicago River views, bathtub/shower combo, and oversized windows framing panoramic river views.
• 2 Queen Deluxe Room 380 sq ft guest room accommodating up to 4 guests with large windows and skyline views.
• 2 Queen River View Room Guest room featuring window seats and views of the Chicago River.
• One Bedroom Suite 575 sq ft suite with a spacious living area featuring a queen sleeper sofa and a walk-in shower.
• One Bedroom River View Suite Suite with spacious living room including a queen sleeper sofa and oversized shower, with views of the Chicago River.
• Perilla Korean American Steakhouse On-site Korean American steakhouse blending Korean culinary traditions with classic American flavors, featuring custom table-side grills at every table, premium cuts, innovative dishes, and expertly crafted cocktails. Serves breakfast (weekdays 7–11am, weekends 8–11am) and dinner, with two private dining rooms available.
• Paris Ballroom 2,700 sq ft pillar-free ballroom accommodating up to 300 guests for receptions or 190 for seated dinners. Windowless sophisticated event space for large events and weddings.
• Athens Meeting Room 960 sq ft meeting room with wall-to-wall windows, suitable for small- to mid-sized meetings of up to 80 guests theater-style or for banquets.
• Seoul Meeting Room 487 sq ft meeting room with built-in bar, ideal for receptions and all-day gatherings with self-serve drinks and refreshments, accommodating up to 20 guests.
• Stay Longer, Save More Package 20% discount on stays of 3 nights or more, targeted at long weekends, city breaks, and remote work trips.
• Bed and Breakfast Package Hotel package including a $50 breakfast credit at Perilla Restaurant, served weekdays 7:00–11:00 AM and weekends 8:00–11:00 AM.
• Curious Traveler Package Hotel package including a daily train pass for Chicago's CTA transit system for seamless city exploration.
• Art in the City Package Hotel package including two tickets to the Museum of Contemporary Art (MCA) Chicago and late check-out upon availability.
• Stay & Valet Package Hotel package including daily valet parking with unlimited in-and-out access for roadtrippers and driving visitors.
• L7 Krave Station Complimentary grab-and-go station offering coffee, espresso drinks, hot tea, filtered water, and thoughtful snacks available from 6am–6pm daily for hotel guests.

Quantifiable outcome

• Paris Ballroom accommodates up to 300 guests for receptions and 190 for seated dinners, with pillar-free 2,700 sq ft of flexible space
• +2 more outcomes

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature7 records

Partnerships

Three partnerships are on record, tiered minor and core.

• iLeftMyStuffminorImplementation/ SI/ Consulting PartnerL7 Chicago partners with iLeftMyStuff for lost and found management. Guests report lost items through iLeftMyStuff's online portal, and the hotel cross-references reports with its inventory. Once a match is confirmed, guests are notified and can arrange secure delivery. Valuables are held for 90 days; general items for 30 days.
• Audio Visual Productions (AVP)coreTechnology or IntegrationL7 Chicago has an exclusive partnership with Audio Visual Productions for in-house AV services. AVP provides state-of-the-art audio-visual equipment for events of any size as well as experienced on-site technicians. If another AV provider is requested by event clients, additional fees apply.
• Lotte Hotel Co., Ltd (Hotel & Restaurant Group)coreOEM/ Whitelabel/ Licensing PartnerLotte Hotel Co., Ltd operates and manages L7 Chicago as part of the Lotte Hotels & Resorts global portfolio. The hotel is managed by Lotte Hotel Co., Ltd as agent for and on behalf of the property owners. Lotte Hotel Co., Ltd and its affiliates bear no liability to guests in relation to claims or disputes under the event agreement. The L7 brand is owned and licensed by Lotte Hotels & Resorts.

Scale indicators6 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• The Langham, Chicago: Luxury full-service hotel on the Chicago River near the Loop with comparable room count, river views, premium F&B, and meeting/event space. Directly competitive for upscale business and leisure travelers and group bookings in the same downtown catchment.
• The Westin Chicago River North: Upper-upscale Marriott-flagged full-service hotel in the Chicago River North submarket. Comparable room inventory, river/location profile, and group/event capability compete for the same corporate, group, and wedding demand as L7 Chicago.
• Conrad Chicago: Luxury full-service downtown Chicago hotel on N. Michigan Avenue / Magnificent Mile with comparable pricing, room count, river/lake views, and high-end F&B. Direct competitor for upscale leisure and corporate bookings.
• JW Marriott Chicago: Luxury full-service Loop hotel on W. Adams with substantial meeting/event space and signature restaurant. Competes for luxury leisure, weddings, and corporate events against L7 Chicago's Paris Ballroom and Perilla.
• Sofitel Chicago Magnificent Mile: Luxury full-service downtown Chicago hotel on N. Mag Mile with French-inspired design. Competes for luxury leisure and corporate travelers in the same downtown catchment as L7 Chicago.
• Radisson Blu Aqua Hotel, Chicago: Upper-upscale full-service downtown Chicago hotel offering rooms with city/river views, meeting space, and an on-site restaurant. Competes with L7 Chicago for the same convention and corporate transient demand in the same lakeside/Loop submarket.
• Hyatt Centric Chicago Loop: Lifestyle full-service hotel located in the Chicago Loop, with curated design and on-site dining, comparable in size and positioning to L7 Chicago's lifestyle/luxury intersection.
• The Allegro Royal Sonesta Hotel Chicago: Boutique luxury hotel on W. Randolph in Chicago's Loop theatre district with meeting/event space and a signature restaurant. Direct lifestyle competitor for L7 Chicago's curious-traveler positioning.

Others

• Lotte Hotel Seoul: Sister flagship luxury full-service hotel under Lotte Hotels & Resorts (parent). Comparable operating model, brand standards, and F&B approach; informs expectations for L7 Chicago's positioning even though it operates in a different geography.

Broad incumbents

• Hilton Chicago: Massive landmark convention-and-event full-service Chicago hotel with substantially larger meeting capacity than L7 Chicago. Competes for convention group demand and serves as a benchmark for downtown meeting-space economics.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/profile.php
• LinkedInlinkedin.com/company/l7chicago-by-lotte
• Instagraminstagram.com/l7chicago

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about L7 Chicago BY LOTTE