Lotte Hotel to pay W200 mil. for canceling Ne-Yo concert
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Ne-Yo
By Yun Suh-young
A court ordered Lotte Hotel & Resorts, Tuesday, to pay 200 million won in compensation to an entertainment agency for canceling a concert for which the hotel had hired the agency.
Lotte abruptly canceled the concert of R&B singer Ne-Yo which the entertainment agency had been preparing on behalf of the hotel, after negotiations failed with hip-hop singer 50 Cent.
The hotel initially had ordered the agency to book a concert featuring 50 Cent in 2014, but due to the rapper’s schedule the agency contacted Ne-Yo instead. Ne-Yo's agency confirmed he was available and the Korean agency spent over 100 million won signing with Ne-Yo's agency and renting a concert hall.
Lotte Hotel, however, abruptly and unilaterally informed the agency that it was pulling its financial backing for the concert. The agency, facing huge losses, filed a suit against the hotel asking for 200 million won in compensation.