Hotel and restaurant operator FDC International Hotels Corp (FDC, 雲品國際) is to seek primary listing on the main bourse in the second half of this year, making it more visible and accountable at home and abroad, senior executives said yesterday.
The operator of the five-star hotel Fleur de Chine (日月潭雲品酒店) near Sun Moon Lake and buffet restaurant Giardino in New Taipei City’s Sinjhuang District (新莊) aims to grow revenues this year, but voiced concerns over uncertainties that may constrain business, FDC president David Ding (丁原偉) said.
“We expect occupancy and room rates to stay flat this year from last year, when the company managed an increase of 2 percent, compared with a 10 percent drop among its peers,” Ding told a media gathering.
Ding attributed the cautious sentiment to the lingering economic slowdown and policy uncertainty over the power transition that may discourage some Chinese tourists from visiting.
FDC is a spinoff of L’Hotel de Chine Group (LDC, 雲朗觀光), the owner of Palais de Chine (君品酒店), Maison de Chine (兆品酒店), Chateau de Chine (翰品酒店) and Chinatrust Hotels (中信旅館).
The hotelier set the timing for its initial public offering (IPO) on the Taiwan Stock Exchange in the second half of this year, which would make the company more accountable to shareholders and investors, Ding said.
FDC is currently listed on the Emerging Stock Market, a preparatory board for the nation’s two main bourses.
The company is seeking to deepen hotel and independent restaurant management and is to open a new hotel in Italy next quarter and add another three in different parts of Taiwan in the coming two years, Ding said.
FDC posted NT$1.22 billion (US$36.52 million) in revenue last year, surging 91.42 percent from last year, as the focus on meetings, incentives, conferences and events as the main source of income proved successful, Ding said.
The pickup was evident last month, which saw revenues increase 21.1 percent to NT$139 million, company data showed.
The strategy will render FDC less susceptible to policy uncertainty because Chinese tourists account for less than 10 percent of its clientele, while Taiwanese make up the big majority, Ding said.
“It should not be too difficult to find guests for 211 hotel rooms… The key lies in product differentiation and in-depth travel experience,” Ding said.
Food and beverages generate more than 60 percent of total FDC revenues with the two-year buffet restaurant contributing 70 percent, affirming the attraction of fine cuisines at reasonable prices despite the facility’s less popular location, Ding said.
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