Cosmos Hotel & Resorts Group (天成飯店集團) is seeking to expand under a multibrand and asset-light business model that might allow it to launch an initial public offering (IPO) in 2024.
The strategy means the group would focus on hotel and restaurant operations rather than invest in physical assets, because such an approach can deliver a better return on assets, lower profit volatility, greater flexibility and higher scale-driven cost savings, Cosmos chief executive officer Mike Chang (張東豪) said in an interview with the Chinese-language Commercial Times yesterday.
The group’s properties include Hua Shan Din (華山町) near Taipei’s Zhongxiao-Xinsheng MRT Station, Cosmos Taipei (台北天成大飯店)
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)
Cosmos Banquet at TICC getting its ducks in a row
By Crystal Hsu / Staff reporter
Cosmos Hotel & Resorts Group (天成飯店集團) aims to boost its food and beverage sales during the upcoming high season by double percentage points at its banquet facility at the Taipei International Convention Center (TICC).
Cosmos Banquet at TICC (世貿國際會館), the group’s stand-alone restaurant, is looking to attract corporate guests and families by launching a revised duck menu at discount rates, marketing and communications head Blithe Chao (趙芝綺) said earlier this week.
“We expect the promotion campaign that features creative and conventional duck dishes from NT$1,980 to NT$2,999 [US$69.52 to US$105.30] to help increase the revenue by 20 percent, as duck dishes are popular with Taiwanese diners all year round,” she said.