Grand Formosa Regent plans move into China | Grand Formosa
ByJackieLin/STAFFREPORTERFormosaInternationalHotelsCorp(晶華酒店),owneroftheGrandFormosaRegentTaipei,willbecomethefirstlocalbrandtoexplorethecompetitivehotelmarketinShanghaiatatimewhenthecitysrealestatemarketiscoolingdownandthenumberofbusinesspeopletravelingtoChinaisontherise,saidatopGrandFormosaexecutiveyesterday. TheChinesegovernmentsefforttocoolitsoverheatingeconomyhascreatedamarkedeffectonShanghaisrealpropertymarket,drivingdownhousingpricesby15percentto19percent,saidLinMing-yueh(林明...
By Jackie Lin / STAFF REPORTER
Formosa International Hotels Corp (晶華酒店), owner of the Grand Formosa Regent Taipei, will become the first local brand to explore the competitive hotel market in Shanghai at a time when the citys real estate market is cooling down and the number of businesspeople traveling to China is on the rise, said a top Grand Formosa executive yesterday. The Chinese governments effort to cool its overheating economy has created a marked effect on Shanghais real property market, driving down housing prices by 15 percent to 19 percent, said Lin Ming-yueh (林明月), executive comptroller of Grand Formosa. "Shanghais business travel sector is growing by 15 percent annually, making it a commercial hub in Asia Pacific with abundant business opportunities," Lin said. "Now is the perfect time to expand our core business there."...