Ambassador Hotels and Restaurants (國賓飯店) on Tuesday approved plans to seek urban renewal for its property in Kaohsiung, following a similar move last year for its flagship hotel in Taipei to cope with a business slowdown caused by the COVID-19 pandemic, the company said in a regulatory filing.
The hospitality provider, which ceased guestroom operations at Ambassador Hotel Taipei (台北國賓飯店) in July, said the 40-year-old Ambassador Hotel Kaohsiung (高雄國賓飯店) has been hit hard by border controls and social distancing measures.
Urban renewal would allow both properties to boost their floor area and value, the filing said.
Photo courtesy of Ambassador Hotels and Restaurants
Ambassador Hotel Taipei sits on a 1,454 ping (4,807m2) plot, making it the largest renewal project so far by measure of area, it said, adding that the company plans to build three high-rise buildings connected via the lower floors at the site.
One building would be reserved as an upscale hotel and the other two would house 76 luxury apartments, it added.
The company said it intends to invite Japan’s Palace Hotel Tokyo to operate the planned hotel in Taipei upon its completion and the two sides would sign a management contract in January next year.
Japanese travelers accounted for 70 percent of the clientele at Ambassador Hotel Taipei prior to the COVID-19 pandemic, the firm said.
The company said it would temporarily move its Cantonese and Szechuan restaurants, as well as its Michelin-starred A Cut Steakhouse at Ambassador Hotel Taipei, to a new mixed-use complex on Liaoning Street in February or March next year.
The company also owns Ambassador Hotel Hsinchu (新竹國賓飯店), whose operations have been unaffected, it added.
The company reported losses of NT$51.68 million (US$1.86 million) in the first three quarters of this year, or losses of NT$0.14 per share, company data showed.
Taiwanese suppliers to Taiwan Semiconductor Manufacturing Co. (TSMC, 台積電) are expected to follow the contract chipmaker’s step to invest in the US, but their relocation may be seven to eight years away, Minister of Economic Affairs J.W. Kuo (郭智輝) said yesterday. When asked by opposition Chinese Nationalist Party (KMT) Legislator Niu Hsu-ting (牛煦庭) in the legislature about growing concerns that TSMC’s huge investments in the US will prompt its suppliers to follow suit, Kuo said based on the chipmaker’s current limited production volume, it is unlikely to lead its supply chain to go there for now. “Unless TSMC completes its planned six
Intel Corp has named Tasha Chuang (莊蓓瑜) to lead Intel Taiwan in a bid to reinforce relations between the company and its Taiwanese partners. The appointment of Chuang as general manager for Intel Taiwan takes effect on Thursday, the firm said in a statement yesterday. Chuang is to lead her team in Taiwan to pursue product development and sales growth in an effort to reinforce the company’s ties with its partners and clients, Intel said. Chuang was previously in charge of managing Intel’s ties with leading Taiwanese PC brand Asustek Computer Inc (華碩), which included helping Asustek strengthen its global businesses, the company
Power supply and electronic components maker Delta Electronics Inc (台達電) yesterday said second-quarter revenue is expected to surpass the first quarter, which rose 30 percent year-on-year to NT$118.92 billion (US$3.71 billion). Revenue this quarter is likely to grow, as US clients have front-loaded orders ahead of US President Donald Trump’s planned tariffs on Taiwanese goods, Delta chairman Ping Cheng (鄭平) said at an earnings conference in Taipei, referring to the 90-day pause in tariff implementation Trump announced on April 9. While situations in the third and fourth quarters remain unclear, “We will not halt our long-term deployments and do not plan to
The New Taiwan dollar and Taiwanese stocks surged on signs that trade tensions between the world’s top two economies might start easing and as US tech earnings boosted the outlook of the nation’s semiconductor exports. The NT dollar strengthened as much as 3.8 percent versus the US dollar to 30.815, the biggest intraday gain since January 2011, closing at NT$31.064. The benchmark TAIEX jumped 2.73 percent to outperform the region’s equity gauges. Outlook for global trade improved after China said it is assessing possible trade talks with the US, providing a boost for the nation’s currency and shares. As the NT dollar
RSS