Landis Hospitality Group (亞都麗緻) on Wednesday said it expects full recovery for its dining facilities next year, from 80 percent currently, but guestroom occupancy would remain low, despite COVID-19 border controls being eased.
The Taipei-based company told an online investors’ conference that its restaurant revenue this quarter returned to 80 percent of pre-pandemic levels and is expected to reach 100 percent next year.
Its Tien Hsiang Lo (天香樓) Chinese restaurant and French restaurant Paris 1930 de Hideki Takayama (巴黎廳) at the Landis Taipei Hotel (台北亞都麗緻飯店) this year won Michelin recognitions, helping to attract guests, it said.
Photo: Sung Chih-hsiung, Taipei Times
Although virus outbreaks have played havoc on hotels in Taipei, the 43-year-old group said it has no intention of tearing down its facilities and seeking urban renewal as some peers have.
The majority shareholder controls about 90 percent of the shares in circulation and is not worried about different opinions of other shareholders, the company said.
Occupancy rates have risen from 0 to 4 percent in the past two years to 10 percent following the reopening of borders last month, it said.
The group is not worried about potential labor shortages, as it has retained sufficient headcount and retired employees would help if necessary, it said.
Real estate agent and property developer JSL Construction & Development Co (愛山林) led the average compensation rankings among companies listed on the Taiwan Stock Exchange (TWSE) last year, while contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) finished 14th. JSL Construction paid its employees total average compensation of NT$4.78 million (US$159,701), down 13.5 percent from a year earlier, but still ahead of the most profitable listed tech giants, including TSMC, TWSE data showed. Last year, the average compensation (which includes salary, overtime, bonuses and allowances) paid by TSMC rose 21.6 percent to reach about NT$3.33 million, lifting its ranking by 10 notches
SEASONAL WEAKNESS: The combined revenue of the top 10 foundries fell 5.4%, but rush orders and China’s subsidies partially offset slowing demand Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) further solidified its dominance in the global wafer foundry business in the first quarter of this year, remaining far ahead of its closest rival, Samsung Electronics Co, TrendForce Corp (集邦科技) said yesterday. TSMC posted US$25.52 billion in sales in the January-to-March period, down 5 percent from the previous quarter, but its market share rose from 67.1 percent the previous quarter to 67.6 percent, TrendForce said in a report. While smartphone-related wafer shipments declined in the first quarter due to seasonal factors, solid demand for artificial intelligence (AI) and high-performance computing (HPC) devices and urgent TV-related orders
Prices of gasoline and diesel products at domestic fuel stations are this week to rise NT$0.2 and NT$0.3 per liter respectively, after international crude oil prices increased last week, CPC Corp, Taiwan (台灣中油) and Formosa Petrochemical Corp (台塑石化) said yesterday. International crude oil prices last week snapped a two-week losing streak as the geopolitical situation between Russia and Ukraine turned increasingly tense, CPC said in a statement. News that some oil production facilities in Alberta, Canada, were shut down due to wildfires and that US-Iran nuclear talks made no progress also helped push oil prices to a significant weekly gain, Formosa said
MINERAL DIPLOMACY: The Chinese commerce ministry said it approved applications for the export of rare earths in a move that could help ease US-China trade tensions Chinese Vice Premier He Lifeng (何立峰) is today to meet a US delegation for talks in the UK, Beijing announced on Saturday amid a fragile truce in the trade dispute between the two powers. He is to visit the UK from yesterday to Friday at the invitation of the British government, the Chinese Ministry of Foreign Affairs said in a statement. He and US representatives are to cochair the first meeting of the US-China economic and trade consultation mechanism, it said. US President Donald Trump on Friday announced that a new round of trade talks with China would start in London beginning today,
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