Cosmos Hotel & Resorts Group (天成飯店集團) yesterday launched a new hotel, Hua Shan Din (華山町), in downtown Taipei, with an eye to achieving a 90 percent occupancy rate this year.
It is the group’s third hotel under the Cosmos Creation (天成文旅) series after the Sun Dialogue Hotel (繪日之丘) in Chiayi County and ICASA (回行旅) in Taichung.
“Hua Shan Din’s targets are young independent travelers from Taiwan, Hong Kong, Japan and elsewhere in Asia, but it also seeks to appeal to family travelers with its historical, but fashionable design,” assistant director of marketing and communication Blythe Chao (趙芝綺) told a media briefing.
The group spent NT$200 million (US$6.55 million) to turn an old idle building of First Commercial Bank (第一銀行) near MRT Zhongxiao Xinsheng Station into the new lodging complex.
Hua Shan Din aims to differentiate itself from the competition by preserving the 70-year-old building’s columns and structure while accentuating its banking origin.
Built in 1952, the three-story complex used to be the state-run lender’s vault and warehouse for valuable collateral, Cosmos officials said.
The design theme accounts for the use of “gold” coins and mugs in each guestroom and the restaurant, they said.
Its proximity to Huashan 1914 Creative Park (華山1914文化創意產業園區) should lend further support to the hotel’s success, they said.
Hua Shan Din offers 72 guest rooms priced between NT$6,000 and NT$9,500, Chao said.
A 90 percent occupancy is achievable given its convenient location and modest size, another communication official said.
With the new hotel offering promotional packages of NT$3,399 to NT$4,399 until the end of September, its room rate is likely to average NT$4,000 this year, another communication official said.
Occupancy rates at affiliates Cosmos Taipei (台北天成大飯店), next to Taipei Railway Station, and Taipei Garden Hotel (台北花園大酒店), near MRT Ximen Station, have stayed high due to their convenient location, the official said.
Although inbound tourism has stagnated, the group remains upbeat about the hospitality industry and is to press ahead with its plans to expand using a multi-brand strategy, Chao said.
Cosmos runs 10 outlets under 11 brands that encompass hotels, restaurants, bakeries and a golf course. It is to open a luxury resort, Grand Cosmos Resort Ruisui (瑞穗春天國際觀光酒店), in Hualien County’s Rueisui Township (瑞穗) next quarter, Chao said.
STEPPING UP: The firm has also asked employees to work in split shifts from this week and to halt all but essential overseas business travel from next month Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) has implemented a remote work policy for employees not on production lines in an attempt to curb the spread of COVID-19, the world’s largest contract chipmaker said yesterday. This is the first time in the Hsinchu-based company’s history that it has launched a large-scale remote work policy, joining global technology companies, such as Apple Inc and Google, that encourage employees to work from home. The chipmaker has also asked employees to work in split shifts from this week, it said. As the number of virus infections continues to climb worldwide, TSMC has urged employees to halt unnecessary
A two-hour drive south of Amsterdam in Veldhoven, workers decked out head-to-toe in protective gear toil in vast assembly halls. Before entering the inner sanctuary of the facilities, they meticulously layer on masks, gloves and special socks. A single speck of dust or a hair can have devastating effects on production. The result of all this painstaking process is an environment that is 10,000 times more purified than outside. As COVID-19 grips the world, it might just be the safest place to work right now. The teams belong to ASML Holding NV, which holds a de facto monopoly on the industry of
DBS Bank Ltd yesterday hacked its GDP growth forecast for Taiwan this year to 0.9 percent, down from its estimate of 2.3 percent two months earlier, in light of the COVID-19 pandemic and increasing financial market volatility. The bank’s latest forecast was even lower than London-based IHS Markit Ltd’s estimate of 1 percent, while other research institutes’ projections range from 1.6 percent to 2.6 percent. Taiwan’s economic momentum is being negatively affected by the pandemic, DBS said. The rapid spread of the disease from Asia to Europe and the US has dampened the bank’s previous expectation of a “V-shaped” global rebound in the
DOWNSIDE RISKS: Firms have a ‘very low’ chance of boosting investment returns in the next two years, making it hard for them to improve their capitalization, an analyst said Taiwanese life insurers wanting to improve their capital structure face strong headwinds this year, given prolonged low interest rates and economic impacts derived from trade protectionism and the COVID-19 pandemic, Taiwan Ratings Corp (中華信評) said on Friday. The local life insurance sector also still has high asset risks and such risks are susceptible to market volatility, the local arm of Standard & Poor’s Global Ratings said. Since last year, major financial holding companies — including CTBC Financial Holding Co (中信金控), Cathay Financial Holding Co (國泰金控) and Shin Kong Financial Holding Co (新光金控) — have announced plans to raise fresh capital to