The Lai Lai Sheraton Hotel (
"We will definitely look into a large-scale renovation of the place once the transition is finished," said Josef Dolp, general manager of the hotel.
According to the Chinese-language Business Weekly magazine (
On April 30, Tsai, head of My Humble House Group (
Established in 1981 by Tsai's elder brother, Tsai Chen-nan (蔡辰男), the five-star hotel's ownership and management rights returned to the Tsai family after seven years.
In 1995, the Tsai family -- owners of Taiwan's largest insurance group, Cathy Life Insurance Co (
One industry watcher said refurbishing the Lai Lai is absolutely necessary.
"To compete with other new hotels in Taipei, the Lai Lai needs a face-lift as soon as possible," said Lee Shao-pin (
Hotels generally undergo refurbishment every three to five years, Lee said.
"Guests and travelers like to stay in bright, new places," he said.
Location is also a problem for the Lai Lai.
With the city's business center long shifted eastward, the Lai Lai is far from most pedestrian conveniences, Lee said.
Both the Taipei World Trade Center and the Taipei's major shopping districts are on the east side of the city.
"However Taipei Sheraton is located on Taipei city's west side, far from current hot spots," Lee said.
But one Taipei resident said the Lai Lai is always very competitive.
"Without any doubt, every time my friends and customers come to Taiwan I recommend they stay [in the Lai Lai]," said Dick Adler, a foreign businessman who has lived in Taipei for more than 30 years.
While the Lai Lai is older in appearance compared to the Grand Hyatt or the Formosa Regent, its hospitality and service are very good, he said.
"As far as I know, the Lai Lai retains many loyal customers," Adler said.
The company reported NT$2 billion in sales last year, Dolp said.
"This year we will target the same amount of sales," he said, adding that the industry is currently experiencing a slump.
Real estate agent and property developer JSL Construction & Development Co (愛山林) led the average compensation rankings among companies listed on the Taiwan Stock Exchange (TWSE) last year, while contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) finished 14th. JSL Construction paid its employees total average compensation of NT$4.78 million (US$159,701), down 13.5 percent from a year earlier, but still ahead of the most profitable listed tech giants, including TSMC, TWSE data showed. Last year, the average compensation (which includes salary, overtime, bonuses and allowances) paid by TSMC rose 21.6 percent to reach about NT$3.33 million, lifting its ranking by 10 notches
SEASONAL WEAKNESS: The combined revenue of the top 10 foundries fell 5.4%, but rush orders and China’s subsidies partially offset slowing demand Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) further solidified its dominance in the global wafer foundry business in the first quarter of this year, remaining far ahead of its closest rival, Samsung Electronics Co, TrendForce Corp (集邦科技) said yesterday. TSMC posted US$25.52 billion in sales in the January-to-March period, down 5 percent from the previous quarter, but its market share rose from 67.1 percent the previous quarter to 67.6 percent, TrendForce said in a report. While smartphone-related wafer shipments declined in the first quarter due to seasonal factors, solid demand for artificial intelligence (AI) and high-performance computing (HPC) devices and urgent TV-related orders
Prices of gasoline and diesel products at domestic fuel stations are this week to rise NT$0.2 and NT$0.3 per liter respectively, after international crude oil prices increased last week, CPC Corp, Taiwan (台灣中油) and Formosa Petrochemical Corp (台塑石化) said yesterday. International crude oil prices last week snapped a two-week losing streak as the geopolitical situation between Russia and Ukraine turned increasingly tense, CPC said in a statement. News that some oil production facilities in Alberta, Canada, were shut down due to wildfires and that US-Iran nuclear talks made no progress also helped push oil prices to a significant weekly gain, Formosa said
MINERAL DIPLOMACY: The Chinese commerce ministry said it approved applications for the export of rare earths in a move that could help ease US-China trade tensions Chinese Vice Premier He Lifeng (何立峰) is today to meet a US delegation for talks in the UK, Beijing announced on Saturday amid a fragile truce in the trade dispute between the two powers. He is to visit the UK from yesterday to Friday at the invitation of the British government, the Chinese Ministry of Foreign Affairs said in a statement. He and US representatives are to cochair the first meeting of the US-China economic and trade consultation mechanism, it said. US President Donald Trump on Friday announced that a new round of trade talks with China would start in London beginning today,
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