Taipei-based Cosmos Hotel & Resorts Group (天成飯店集團) aims to grow revenue this year aided by the launch of a new hotel next month, despite a soft economy at home and abroad.
The hospitality provider, which operates five hotels and one independent restaurant, expects to generate NT$1.7 billion (US$51.98 million) in revenue this year, a modest increase of 3 percent from last year, in line with a multi-branding expansion strategy, the company said.
“We have sensed the economic slowdown, but its impact is not evident on the group, thanks to quick strategy adjustments,” the company’s assistant director of marketing and communication Blythe Chao (趙芝綺) said by telephone.
Cosmos Hotel Taipei (台北天成大飯店), the company’s oldest hotel and main source of revenue, had an occupancy rate of 96.63 percent in the first quarter, extending its leadership from last year with 95.7 percent, the company said.
Its location in front of Taipei Main Station and low-price strategy make it a top choice among independent travelers exploring Taipei and Taiwan, the company said.
Cosmos Taipei room rates averaged NT$3,500 per night last year and are likely to stay flat this year, the company said.
The economic weakness increases the difficulty of securing customers, but the group has made adjustments to expand and diversify its customer base, the company said.
In particular, the group has opened new facilities targeting young independent travelers, it added.
The launch next month of a new hotel in Chaiyi under the Sun Dialogue Hotel (天成文旅-繪日之丘) brand is an example of the ongoing adjustments, after setting up the budget hotel Bee House (蜂巢) in 2013.
Independent travelers account for 95 percent of the group’s customer base with tourists from Taiwan, Japan, Hong Kong, South Korea, Singapore and Malaysia all contributing sizable shares, Chao said, adding that Japanese and Hong Kongers make up 20 percent of the market each.
The group is not losing its focus on business and high-end customers, with an occupancy rate of 91.55 percent at its five-star facility, Taipei Garden Hotel (台北花園大酒店) last year, the company said.
Various trade fairs, such as the Taipei International Cycle Show in March and Computex next month, help fill rooms and dining facilities, the company said.
In addition, the company is expected to open a luxury resort hotel in Hualien County’s Ruisui Township (瑞穗) in the second quarter of next year.
If things proceed smoothly, the company intends to seek primary listing in the local bourse in 2019, it said.
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