Grand Mayfull Hotel Taipei (美福飯店), a domestic hotel brand, is to have its soft opening tomorrow and aims to break even with revenue of NT$1.2 billion (US$35.79 million) in its first year of operations, company chairman Chen Chun-tung (陳春銅) said on Wednesday.
Unlike its peers, the new hotel expects its dining facilities to drive 70 percent of sales, even though it is to charge NT$14,000 per night for a standard guestroom, making it the most expensive hotel in Taiwan.
“We are upbeat about the tourism industry in Taiwan in the long run and are determined to tap the market for fine cuisine,” said Chen, who is also chairman of Liangmao Construction Co (良茂建設).
Chen holds a 25 percent stake in Grand Mayfull, an affiliate of Mayfull Foods Corp (美福食集), one of the nation’s largest meat importers and distributors, which is trying to recover from the death of former chairman Huang Ming-ren (黃明仁) after a family dispute two months ago.
The hotel in Taipei’s Dazhi area (大直) offers 146 deluxe rooms of 15 ping (49.5m2) or larger and is courting wealthy entrepreneurs, senior corporate executives and other high-end customers from around the world and at home, Chen said.
Chen took the helm at Grand Mayfull five days after Huang’s death, which left him the largest shareholder after the former chairman’s 30 percent stake was divided among his children.
Grand Mayfull expects occupancy rates to reach 40 percent this year and said it is confident about achieving the goal after the grand opening — slated for April — based on inquiries from potential customers at home and abroad, Chen said.
Sitting on a 3,600-ping plot of land, the hotel has five themed restaurants that are to serve buffet meals, as well as Taiwanese, Cantonese, Japanese and French cuisine, at prices higher than local peers, he said.
The focus on food and beverages was in line with a risk-diversification strategy, with the sector’s occupancy rates slipping by 2.7 percent to 74.9 percent in Greater Taipei for the first 11 months of last year, the first decline in five years, Chen said.
The number of hotel rooms increased 3.3 percent, while room rates edged up 0.7 percent, raising concern over a slowdown in demand, property consultant CBRE Taiwan said.
Grand Mayfull aims to grow into a listed firm if things fare well, Chen said.
All of the hotel’s rooms have floor-to-ceiling windows, marble bathrooms, walk-in closets and decorations styled by local craftspeople, deputy general manager Kaku Kuo (郭玲玲) said.
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