InterContinental Hotels Group (IHG) has inked a management pact for Regent Hotels & Resorts (晶華麗晶酒店) in Kuala Lumpur, Malaysia, in a bid to expand the brand’s international reach.
The agreement came four months after IHG acquired a majority stake in Taipei-based Regent Hotels & Resorts from Formosa International Hotels Corp (FIHC, 晶華麗晶酒店集團) for US$60 billion to boost its global presence as the industry consolidates.
Regent Kuala Lumpur is to be situated next to the Tun Razak Exchange project, touted to be the next financial district of Kuala Lumpur and an extension of the city’s golden triangle known for its commercial, shopping and entertainment options, IHG said on its Web site.
IHG has relaunched the Regent brand to bring it into the top end of its portfolio.
“The new positioning and brand identity will allow us to take the brand to the world’s best destinations and help position Regent as a real leader within luxury hospitality,” IHG chief executive officer Keith Barr said at its rebranding event in Singapore on Thursday.
The company hopes to expand its global footprint in the fast-growing luxury segment, backed by the Regent and Kimpton brands, Barr said.
IHG intends to grow the Regent portfolio from six hotels to more than 40 in global gateway cities and resort locations, he said.
Plans are under way to rebrand InterContinental Hong Kong as a Regent hotel in 2021, IHG said, adding that the rebranding would see the hotel return to its roots, having first opened its doors as a Regent in 1980.
FIHC executive chairman Steven Pan (潘思亮) said he is glad IHG shares his vision about Regent and can already foresee what could be achieved via the alliance with one of the world’s largest hotel companies.
“It is an exciting time for the brand as we propel Regent back to worldwide reach and evolve the brand to appeal to luxury travelers,” Pan said.
FIHC is to focus on running Regent Taipei and other brands such as Silks Place (晶英酒店) and Just Sleep (捷絲旅) in Taiwan.
Polytronics Technology Corp (聚鼎科技) yesterday announced that it is buying Henkel AG’s thermal clad dielectric material (TCLAD) business division for US$26 million as the Taiwanese firm aims to improve its technology, product portfolio and revenue performance. Polytronics, headquartered in the Hsinchu Science Park (新竹科學園區), is a supplier of protection components and heat dissipation materials. The firm entered the metallic heat-dissipation substrate market in 2007 and developed a unique solventless production process. Its board of directors approved signing an agreement with Henkel to acquire the German chemical firm’s TCLAD division in the US. The purchase includes all assets and business interests, including equipment,
SIZE MATTERS: Medium-sized hotels that do not have the support of parent groups are more vulnerable and are forced to take action, a REPro Knight Frank researcher said About 50 hotels across Taiwan are seeking to exit the market as they succumb to the bleak business outlook amid international travel restrictions imposed to combat the COVID-19 pandemic. Yomi Hotel (優美飯店) on Minsheng E Road, Sec 1, in Taipei is seeking to transfer ownership with an asking price of NT$950 million (US$32.15 million) and a pledge for a lease contract that guarantees a 3 percent return. The budget hotel, with room rates that start from NT$1,400 per night, maintains normal operations, but has been struggling since March, when the government placed restrictions on inbound and outbound travel. Occupancy rates for hotels in
‘SENSITIVE MARKETS’: The previously unannounced project would involve the company handing over control of data to a third party to sidestep privacy concerns Google has abandoned plans to offer a major new cloud service in China and other politically sensitive countries due in part to concerns over geopolitical tensions and the COVID-19 pandemic, two employees familiar with the matter said, revealing the challenges for US tech giants to secure business in those markets. In May, the search giant shut down the initiative, known as “Isolated Region” and which sought to address nations’ desires to control data within their borders, the employees said. The action was considered a “massive strategy shift,” said one of the employees, who added that Isolated Region had involved hundreds of employees
GOGOROS TO GO: The scooter maker’s CEO said that the electric vehicles ‘are the perfect complement to a program designed to stimulate the Taiwanese economy’ Minister of Economic Affairs Wang Mei-hua (王美花) yesterday announced a draw to encourage people to claim their Triple Stimulus Vouchers digitally. The prizes include movie tickets and 25 electric scooters donated by Gogoro Inc (睿能創意), Wang said. The Ministry of Economic Affairs said that it would hold a scooter draw every day for the next 10 days, beginning yesterday, after which there would be a draw every week for 15 weeks. The first winner was a Taiwan Cooperative Bank (合庫銀行) credit card user, the ministry said. The benefits of claiming the vouchers digitally extend beyond the draws, with many businesses offering special deals for