Grand Pacific Investment & Development Holding Co (中實控股), the hospitality arm of Chailease Group (中租集團), yesterday announced the establishment of two subsidiaries, as the company is seeking to expand into the property management and private-security industry.
The operator of Park City Hotels (成旅晶贊) added Yellow Stone Securities (中實特勤保全) and Yellow Stone Service (中實物業管理) to its business map, inspired by the passion of Chailese Group chairman Andre Koo (辜仲立), who received his high-school education at West Point in the US.
“I have a passion for the private-security business due to my military background and would like to introduce the professional prowess I saw abroad to the local market,” Koo told a media briefing.
The 49-year-old Koo, who was ranked the 47th-richest businessman in Taiwan last year by Forbes magazine, expects the new businesses to grow into major players in three years.
Yellow Stone Security intends to recruit retired military and police officers who demonstrate prowess in protection of personnel and assets, Grand Pacific chairman John Huang (黃炳彰) said.
The private-security industry is rapidly growing, with 2 million full-time security workers in the US alone and the number is expected to increase by 21 percent percent through 2020.
Additionally, Huang is expanding the firm’s hotel management capability to property management to allow clients better quality of living.
Park City Hotels operates five hotels and a banquet plaza in New Taipei City, Taichung and Hualien. It also owns a hotel in Xiamen, China, and another in California.
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