Major hotel chains are taking part in this year’s Taipei International Travel Fair, offering cutthroat prices to revitalize business, which had been hit hard by a local COVID-19 outbreak.
Cosmos Hotel & Resorts Group (天成飯店集團) is selling joint hotel vouchers priced at NT$1,800 (US$64.59) each for one-night stays with free breakfasts at its hotel facilities, 88 percent off the group’s regular room rates.
The facilities include Cosmos Taipei (台北天成大飯店) near Taipei Railway Station, Taipei Garden Hotel (台北花園大酒店) near Ximen MRT Station, Hua Shan Din (華山町) near Zhongxiao-Xinsheng MRT Station and the Sun Dialogue Hotel (繪日之丘) in Chiayi City.
Hotel Royal Group (老爺大酒店集團)
INTERVIEW: Creativity helps Formosa Group survive difficult times taipeitimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from taipeitimes.com Daily Mail and Mail on Sunday newspapers.
Taiwan Business TOPICS
With no end to the pandemic yet in sight, it may take years for the travel industry to fully recover. In the short term, the leisure market has the best prospects.
As Taiwan faces a difficult coronavirus outbreak, imagining the future of travel in the country is a challenge. After all, besides containing the outbreak, the government is also focused on helping travel businesses survive this difficult period.
Looking ahead is crucial to the industry’s future prospects, though. The pause in international arrivals gives Taiwan a chance to rethink its tourism strategy, which has focused in recent years on maximizing the number of visitors. In 2019, a record 11.84 million people visited Taiwan, up 7% year-on-year. The vast majority were leisure travelers, who spend less than those who travel for business purposes.
Formosa International Hotels Corp (FIH, 晶華國際酒店集團) yesterday said that its board had approved plans to sell all its shares in Domino’s Taiwan to Australia-listed fast-food operator Dominio’s Pizza Enterprises Ltd for US$61.2 million.
The deal, scheduled to be completed in 90 days, would give FIH the financial means to stay competitive and safeguard the interest of employees and shareholders as the hospitality industry at home and abroad is hit hard by the COVID-19 pandemic, the Taipei-based company said.
Domino’s Taiwan operates 157 corporate and franchised stores, and is the second-largest pizza chain in Taiwan.
The local pizza chain generated a net profit
Formosa International Hotels Corp (FIH, 晶華國際酒店集團) yesterday posted NT$295 million (US$10.53 million) in net income for last quarter, up 87.27 percent from a year earlier as properties across Taiwan largely rebounded from the COVID-19 pandemic.
The figures are the best showing in five quarters and translated into earnings per share of NT$2.11, FIH said after a board meeting.
The virus outbreak was well under control last quarter, allowing business to pick up at the Regent Taipei (台北晶華酒店), Silks Place Tainan (台南晶英酒店), Silks Place Taroko (太魯閣晶英酒店) in Hualien County and Wellspring by Silks (晶泉丰旅) in Yilan County’s Jiaosi Township (礁溪), it said.
FIH-owned Domino’s