Sunworld Dynasty Hotel Taipei (王朝大酒店) yesterday said it would continue to operate after its parent company sold the property to Fubon Life Insurance Co (富邦人壽).
US owner Sunrider International, a private multilevel marketing firm, on Wednesday sold the complex to Fubon Life for NT$26.8 billion (US$906.75 million).
The deal came with an agreement that Sunrider International would lease the whole complex from Fubon Life to keep Sunworld Dynasty Hotel Taipei alive.
“The transaction will therefore have no impact on the hotel’s operation or finances,” Sunworld Dynasty said in a statement.
The hotel is a hospitality unit of Torrance, California-based Sunrider International.
The group’s founder, Chen Tei-fu (陳得福), is a native of Chaiyi County who moved to the US to pursue the “American dream” of building a successful business, its Web site said.
Chen acquired the 14-floor building in 2006 for NT$7 billion, making a prodigious profit of NT$19.8 billion after the deal, local Chinese-language media said.
“Sunworld Dynasty stands by its mission to become the top choice of tourists bound for Taipei, and would strengthen its amenities and service quality to achieve its aim,” it said.
The lease contract would give Fubon Life an annual return of 2 percent, Fubon Life said.
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