Taiwan’s major hotel chains are cautiously optimistic about prospects for the second half of the year, expecting holiday demand to drive growth after forex fluctuations affected first-half performance.
Formosa International Hotels Corp (FIH, 晶華國際酒店集團) this week said that holidays might increse domestic travel through the fourth quarter, while year-end events are also expected to boost food and beverage sales.
FIH, which operates the Regent Taipei (台北晶華酒店), Silks Place (晶英酒店), Just Sleep (捷絲旅) and Wellspring by Silks (晶泉丰旅), reported a 2.53 percent decline in first-half net profit to NT$710 million (US$23.68 million).
Photo: CNA
FDC International Hotels Corp (雲品國際) also expects growth in the fourth quarter after net profit in the first half fell 54.27 percent annually to NT$81 million.
The operator of the Palais de Chine Hotel (君品酒店), Fleur de Chine Hotel (雲品溫泉酒店) and banquet facilities said that without currency effects, its net profit would have been NT$29 million.
My Humble House Hospitality Management Consulting Co (寒舍餐旅), which operates the Sheraton Grand Taipei Hotel and other facilities, said the summer vacation and international conventions are expected to support hotel bookings, and food and beverage sales.
The company reported net profit slumped 81 percent year-on-year to NT$96.89 million in the first half.
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