Private equity fund Riant Capital Ltd (子樂投資) yesterday inked a deal with Hyatt Hotels Corp to introduce two new luxury hotel brands to the high-profile Taipei Sky Tower development project on the site of CTBC Financial Holding’s (中信金控) former headquarters.
The skyscraper is to house Park Hyatt and Andaz in Taipei’s prime Xinyi District (信義), where the US hospitality provider has since September 1990 run the Grand Hyatt Taipei (台北君悅大飯店), the largest facility in the city by number of guest rooms.
Park Hyatt and Andaz are expected to open in 2020 in an already crowded field.
“Hotels are not just a place to sleep when people travel... We aim to create a memorable experience for high-end travelers from around the world,” Riant chairman Aaron Chan (詹偉立) told a news conference in Taipei.
Chan in 2015 led partners to acquire the site for NT$15.12 billion (US$514.25 million at the current exchange rate), unfazed by controversy that delayed the deal for two years.
He has turned the plot into a temporary retail space while waiting for building permits to maximize profit.
The development of Taipei Sky Tower is to cost an additional NT$10 billion. The building is to have 46 above-ground floors, five basement floors and a 300-capacity parking lot.
Park Hyatt is to offer 150 guest rooms from the 13th to 25th floors, while Andaz’s 300 guest rooms are to take up the 27th to 42nd floors, Chan said, adding that lower floors would be set aside for international luxury brands to make the complex a local version of New York’s Fifth Avenue.
David Udell, head of Hyatt’s Asia-Pacific business, said the collaboration represents the group’s first dual-hotel luxury development project in Asia.
“Having Park Hyatt and Andaz under one roof will give us the opportunity to offer different luxury and lifestyle experiences to our local and global guests and cater to their needs,” Udell said.
With only 40 locations worldwide, Park Hyatt is the group’s ultimate luxury brand, and is known for its attention to detail and personal service.
Andaz is a newer brand with 18 locations, loved for its unconventional hotel styles that celebrate local culture and surroundings, Undell said.
Chan said he is upbeat about the travel and hospitality industry in Taiwan, adding that there is still strong potential for growth given the nation’s rich and diversified tourism resources.
Italian firm Antonio Citterio Patricia Viel is to design Park Hyatt Taipei’s interior, while Shanghai-based Neri & Hu Design and Research Office is to be responsible for Andaz, he said.
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