Thu, Mar 28, 2013 - Page 14 News List

Chateau International eyes Pingtung BOT project

By Amy Su  /  Staff reporter

Chateau International Development Co Ltd (夏都國際開發), which operates Chateau Beach Resort Kenting (墾丁夏都沙灘酒店) in Pingtung County, may make a bid for a development project in Pingtung to build a second hotel.

The Pingtung County Government is preparing an auction for a build-operate-transfer (BOT) project that centers on a long-vacant hall in Kenting National Park, with the land suitable for erecting a hotel and other related facilities.

“The auction is expected to be launched in two months under the government’s plan,” Chen Hsi-chun (陳溪圳), Chateau’s chairman, told a press conference yesterday after the company held an investors’ conference.

Chateau has been looking for a suitable location for a second hotel since it made its debut on the main bourse in March last year, with possibilities in all major areas in southern and eastern Taiwan, president Tsai Te-hsiang (蔡德祥) said.

The company is also purchasing a plot of land of more than 8,000 ping (26,400m2) valued at about NT$290 million (US$9.71 million) this year, with the use yet to be decided, Tsai said.

Chateau plans to spend NT$20 million to NT$30 million this year upgrading the interiors of one of its hotel buildings, Tsai said.

Despite a 0.58 percent annual decline in sales in the first two months of the year, Tsai said the company is upbeat about the year and expects revenue to see a significant rebound next month, helped by the annual Spring Scream Festival (春天吶喊) in Kenting (墾丁), which will be held from Thursday next week to April 7.

Chateau also aims to raise sales proportion from foreign travelers from 5 percent to 10 percent by attracting more free independent travelers (FIT) from China, he added.

The company posted NT$141.69 million in net profit for last year, up 8.21 percent from 2011, it said in its financial statement.

However, earnings per share stood at NT$1.78 last year, down from the NT$1.88 recorded in 2011, after the company raised capital for its listing on the main bourse, the statement said.

Chateau shares dropped 0.5 percent to close at NT$39.8 yesterday, Taiwan Stock Exchange data showed.

The company is set to pay shareholders a cash dividend of NT$0.7 per share and a stock dividend of NT$0.5 per share this year.

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