Landis Hospitality Group (麗緻餐旅集團), an upscale hotel and restaurant operator, is to open a new venue, Landis Inn Chuhu, in Hsinchu later this month, as it seeks to expand into the three-star hotel market, senior executives said yesterday.
Located near the Hsinchu Science Park (新竹科學園區) and National Chiao Tung University, the planned inn is aimed at business travelers and university students and faculty with a daily budget of between NT$3,300 and NT$4,200.
“We aim to increase our number of customers without giving up on operating five-star facilities,” Gary Lo (羅明威), assistant general manager at the group’s business development division, told a media briefing in Hsinchu.
Landis Inn Chuhu is the group’s newest venture after Hotel ONE Taichung (台中亞緻大飯店) launched in 2006.
The inn is another example of cooperation between a property builder and a hospitality provider in turning a former residential complex into a lodging establishment, as unfavorable policies and taxes have dragged on property transactions.
The complex features 3,000 ping (9,917m2) of floor space across 14 aboveground levels and two basement floors on a plot of land owned by state-run oil refiner CPC Corp, Taiwan (台灣中油).
Wei Shun Construction Co (暐順建設) won a 50-year lease from CPC to develop the plot and last year inked a deal with Landis to run the establishment, Lo said, adding that the builder is to keep the third to eighth floors as apartments for rent.
Landis Inn Chuhu is to have 173 guest rooms, two restaurants, a sky lounge, a fitness center and other amenities.
Landis executive assistant general manager Benjamin Huang (黃柄鈞), who was put in charge of the inn, expects occupancy rates to hit 80 percent in the first year of operations.
Food and beverage sales might generate 60 percent of total sales and guest rooms the remaining 40 percent, Huang said.
“The goal is achievable, because the group is to open branches of its popular Chinese restaurant Tien Hsiang Lo (天香樓) and French restaurant Brasserie Liz (麗緻巴賽麗) in the inn,” Huang said.
The two restaurants might help win customers and differentiate the inn from five-star competitors, such as Ambassador Hotel Group’s (國賓飯店集團) Ambassador Hotel Hsinchu and the Sheraton Hsinchu Hotel (新竹喜來登), Huang said.
Stella Chen (陳伊婷), the group’s assistant general manager who spent the past year supervising the conversion, said that while the inn is positioned as a three-star facility in pricing, it is equipped with four-star facilities and will provide five-star service.
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) last week recorded an increase in the number of shareholders to the highest in almost eight months, despite its share price falling 3.38 percent from the previous week, Taiwan Stock Exchange data released on Saturday showed. As of Friday, TSMC had 1.88 million shareholders, the most since the week of April 25 and an increase of 31,870 from the previous week, the data showed. The number of shareholders jumped despite a drop of NT$50 (US$1.59), or 3.38 percent, in TSMC’s share price from a week earlier to NT$1,430, as investors took profits from their earlier gains
In a high-security Shenzhen laboratory, Chinese scientists have built what Washington has spent years trying to prevent: a prototype of a machine capable of producing the cutting-edge semiconductor chips that power artificial intelligence (AI), smartphones and weapons central to Western military dominance, Reuters has learned. Completed early this year and undergoing testing, the prototype fills nearly an entire factory floor. It was built by a team of former engineers from Dutch semiconductor giant ASML who reverse-engineered the company’s extreme ultraviolet lithography (EUV) machines, according to two people with knowledge of the project. EUV machines sit at the heart of a technological Cold
TAIWAN VALUE CHAIN: Foxtron is to fully own Luxgen following the transaction and it plans to launch a new electric model, the Foxtron Bria, in Taiwan next year Yulon Motor Co (裕隆汽車) yesterday said that its board of directors approved the disposal of its electric vehicle (EV) unit, Luxgen Motor Co (納智捷汽車), to Foxtron Vehicle Technologies Co (鴻華先進) for NT$787.6 million (US$24.98 million). Foxtron, a half-half joint venture between Yulon affiliate Hua-Chuang Automobile Information Technical Center Co (華創車電) and Hon Hai Precision Industry Co (鴻海精密), expects to wrap up the deal in the first quarter of next year. Foxtron would fully own Luxgen following the transaction, including five car distributing companies, outlets and all employees. The deal is subject to the approval of the Fair Trade Commission, Foxtron said. “Foxtron will be
INFLATION CONSIDERATION: The BOJ governor said that it would ‘keep making appropriate decisions’ and would adjust depending on the economy and prices The Bank of Japan (BOJ) yesterday raised its benchmark interest rate to the highest in 30 years and said more increases are in the pipeline if conditions allow, in a sign of growing conviction that it can attain the stable inflation target it has pursued for more than a decade. Bank of Japan Governor Kazuo Ueda’s policy board increased the rate by 0.2 percentage points to 0.75 percent, in a unanimous decision, the bank said in a statement. The central bank cited the rising likelihood of its economic outlook being realized. The rate change was expected by all 50 economists surveyed by Bloomberg. The