FDC International Hotels Corp (雲品國際) last month saw its business recover significantly from a year earlier, thanks to pent-up demand that more than offset the weak seasonality.
The company last week reported NT$173.25 million (US$5.96 million) in revenue for last month, rising 20.83 percent from a year earlier owing to improving banquet and catering demand that were previously postponed by local COVID-19 outbreaks.
FDC runs independent banquet facilities across the nation by collaborating with businesses situated in buildings with historic charm in scenic locations, making them popular weekend attractions.
Photo courtesy of Formosa International Hotels Corp
While continuing border controls weigh on Palais de Chine Hotel (君品酒店) near the Taipei Railway Station given its heavy dependence on international business travelers, Fleur de Chine Hotel (雲品溫泉酒店) near Nantou County’s Sun Moon Lake (日月潭) has enjoyed high occupancy rates, aided by a continued boom in domestic tourism, the company said.
For the first quarter, revenue totaled NT$544.52 million, rising 7.17 percent from the same period last year, company data showed.
FDC said it is cautiously optimistic about business, as the government adopts more lenient pandemic control measures.
By contrast, Formosa International Hotels Group (FIH, 晶華國際酒店集團) posted NT$455 million in revenue for last month, a fractional drop from a year earlier as its dining facilities remained affected by the pandemic, it said last week.
The lackluster performance was also due to its divestment of Domino’s Pizza last year, removing a profitable contributor to sales from September onward, it said.
Excluding revenue from Domino’s for comparison, FIH’s sales for last month picked up 12.7 percent year-on-year, it said.
Cumulative sales in the first quarter retreated 8.14 percent from a year earlier to NT$1.42 billion, or an increase of 6.6 percent excluding Domino’s contribution, company data showed.
FIH sold its stake in the pizza chain after its hotel and restaurant business incurred significant losses during the level-3 COVID-19 restrictions last year.
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