Cosmos Hotel & Resorts Group (天成飯店集團), which operates three hotels in the north of the nation, aims to implement a multi-brand strategy to accelerate its expansion over the next three years, a group official said earlier this week.
The hotel group is scheduled to launch its first budget hotel in Taipei in June, with a new brand called Bee House (蜂巢). It also plans to invest NT$3 billion (US$100.84 million) opening a luxury resort in Hualien County’s Ruisui Township (瑞穗) in 2015.
“The hotel sector will continue to flourish over the next five to 10 years, backed up by an increase in international tourist numbers,” group chief executive officer Mike Chang (張東豪) told a media briefing on Monday.
The new budget hotel will have an average room rate of NT$2,500 and Cosmos is scheduled to open three or four similar hotels in Taipei under the Bee House brand over the next three years, Chang said.
Chang said he was confident in the budget hotel brand’s profitability, because the demand for hotel rooms in Taipei is likely to outstrip supply over the next few years.
The company is also considering introducing a global brand for its planned luxury resort in Hualien, as the hotel is set to focus more on attracting foreign visitors rather than local ones, he said.
The resort will have about 250 rooms, 20 villas, and a hot-spring theme park, with room rates expected to be similar to those of The Lalu (涵碧樓), an upscale hotel on the shores of Sun Moon Lake (日月潭 ) in central Taiwan.
Cosmos operates the Cosmos Hotel Taipei (天成大飯店), Taipei Garden Hotel (台北花園大酒店) and Yaward Resort Taoyuan (悅華大酒店). It also runs a golf club in Taoyuan and manages the banquet business at the Taipei International Convention Center.
Besides its expansion plans, the group is also considering listing on the local bourse, either under the name of Cosmos Hotel Group or the Taipei Garden Hotel, Chang said.
However, he did not specify a schedule.
Taipei Garden Hotel, a build-operate-transfer project opened in 2009, saw its revenue increase 7 percent to NT$497.03 million last year from 2011, with net income also posting similar growth.
Taipei Garden Hotel general manager Tina Lin (林靜如) said the company still aims to achieve a 7 percent growth in sales and net profit this year.
However, with the room occupancy rate standing at more than 90 percent last year, the company will focus on strengthening quality of service to achieve its growth target by seeking to increase average customer expenditure, she said.
A proposed 100 percent tariff on chip imports announced by US President Donald Trump could shift more of Taiwan’s semiconductor production overseas, a Taiwan Institute of Economic Research (TIER) researcher said yesterday. Trump’s tariff policy will accelerate the global semiconductor industry’s pace to establish roots in the US, leading to higher supply chain costs and ultimately raising prices of consumer electronics and creating uncertainty for future market demand, Arisa Liu (劉佩真) at the institute’s Taiwan Industry Economics Database said in a telephone interview. Trump’s move signals his intention to "restore the glory of the US semiconductor industry," Liu noted, saying that
On Ireland’s blustery western seaboard, researchers are gleefully flying giant kites — not for fun, but in the hope of generating renewable electricity and sparking a “revolution” in wind energy. “We use a kite to capture the wind and a generator at the bottom of it that captures the power,” said Padraic Doherty of Kitepower, the Dutch firm behind the venture. At its test site in operation since September 2023 near the small town of Bangor Erris, the team transports the vast 60-square-meter kite from a hangar across the lunar-like bogland to a generator. The kite is then attached by a
Foxconn Technology Co (鴻準精密), a metal casing supplier owned by Hon Hai Precision Industry Co (鴻海精密), yesterday announced plans to invest US$1 billion in the US over the next decade as part of its business transformation strategy. The Apple Inc supplier said in a statement that its board approved the investment on Thursday, as part of a transformation strategy focused on precision mold development, smart manufacturing, robotics and advanced automation. The strategy would have a strong emphasis on artificial intelligence (AI), the company added. The company said it aims to build a flexible, intelligent production ecosystem to boost competitiveness and sustainability. Foxconn
STILL UNCLEAR: Several aspects of the policy still need to be clarified, such as whether the exemptions would expand to related products, PwC Taiwan warned The TAIEX surged yesterday, led by gains in Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), after US President Donald Trump announced a sweeping 100 percent tariff on imported semiconductors — while exempting companies operating or building plants in the US, which includes TSMC. The benchmark index jumped 556.41 points, or 2.37 percent, to close at 24,003.77, breaching the 24,000-point level and hitting its highest close this year, Taiwan Stock Exchange (TWSE) data showed. TSMC rose NT$55, or 4.89 percent, to close at a record NT$1,180, as the company is already investing heavily in a multibillion-dollar plant in Arizona that led investors to assume
RSS