FIH Regent Group (FIH, 晶華國際酒店集團), which runs the Formosa Regent Taipei (晶華酒店), has joined forces with a Chinese developer to open a five-star hotel in Harbin, apparently unfazed by the economic slowdown in China.
FIH chairman Steven Pan (潘思亮) signed the partnership deal with Harbin Huahong Realty Development Co (哈爾濱地產開發) in Taipei on Wednesday, as FIH looks to deepen its presence in the Chinese market.
Under the brand Regent Place Harbin, the 42-story hotel is to have 284 rooms, three restaurants and other amenities as part of an integrated commercial complex that also includes upscale office space, movie theaters and private houses on a 400,000m2 plot of land, the group said in a statement.
“The development project is targeting high-net-worth customers whose numbers are growing fast in the largest city of northeastern Heilongjiang Province,” an FIH spokesperson said by telephone.
Regent Place Harbin is likely to charge room rates slightly lower than the Regent Beijing, which opened in 2008 with average room rates in the range of NT$8,000 to NT$12,000 per night, the spokesperson said, although the group has yet to set prices.
FIH also plans to open the Regent Place Xian in October next year and the Regent Chongqing two months later, which would make the Regent Place Harbin its fourth hotel in China, the statement said.
Huahong Realty chairman Zhang Hongshan (張鴻善) flew to Taipei to sign the pact.
FIH shares yesterday closed down 0.44 percent in Taipei trading, better than the TAIEX’s 1.09 percent fall. They have fallen by 33.58 percent so far this year, Taiwan Stock Exchange data showed.
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