Thu, Dec 13, 2018 - Page 12 News List

Cathay Hospitality launches Marriott hotel in Taipei

By Crystal Hsu  /  Staff reporter

Cathay Hospitality Management Co (國泰商旅), an affiliate of Cathay Financial Holding Co (國泰金控), yesterday launched the Courtyard by Marriott Taipei Downtown (台北國泰萬怡酒店), saying it hopes to break even in three to five years.

The goal requires annual revenue of between NT$142 million and NT$233 million (US$4.6 million and US$7.55 million) as the company has invested NT$700 million in the property.

“Despite the challenges, the target is achievable,” hotel general manager Kathy Chen (陳玫安) told a media briefing.

Cathay Hospitality, which runs five hotel outlets in different parts of Taiwan under the Madison Taipei (台北慕軒) and Hotel Cozzi (和逸) brands, decided to partner with Marriott International Inc to take advantage of its vast membership from across the globe, she said.

With 200 million members, the Marriott network could supply up to 45 percent of clientele, easing Cathay Hospitality’s burden of having to fill 60 percent of its 227 rooms in the first year, Chen said.

The strategy appears to have paid off as the hotel is almost sold out for New Year’s, she said.

The hotel on Minsheng E Rd Sec 3 is part of an urban renewal project, with guestrooms occupying the 14th to 20th floors and the remaining floors set aside for public and office space, Chen said.

Its location near Xingtian Temple MRT Station and Taipei International Airport (Songshan airport) is expected to make it a first choice among young foreign business travelers, as well as for corporate meetings, conferences and other gatherings, she said.

With daily room rates of NT$5,500 and NT$6,000, the hotel is targeting technology-savvy business travelers between 30 and 40 years old, Chen said, adding that office buildings in the neighborhood should support its business.

With health-oriented menus, food and beverage sales could generate 40 percent of revenue with a buffet restaurant, a lounge bar and an executive bar led by chefs formerly working at the Lalu Sun Moon Lake (涵碧樓), she said.

“An increasingly crowded field poses the biggest challenge, but a new hotel with quality service is always an attraction in itself,” Chen added.

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