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Sunworld Dynasty Hotel Taipei (王朝大酒店) has adopted a new name the Illume Taipei (茹曦酒店) following months of renovation and downsizing as it prepares for its relaunch next month. The property near the Taipei Arena MRT Station in the city’s Songshan District (松山) has cut its number of guestrooms from 730 to 408 by subleasing 1,274 ping (4,212m2) of floor space to retailers, restaurants and fitness facilities and other tenants to boost its cost-efficiency, it said on Thursday. The Illume Taipei aims to rejoin the market on Aug. 18 to take advantage of an expected recovery in the hospitality industry as ....
Taiwan’s worst COVID-19 outbreak has left the nation’s insurers bracing for more than US$1 billion in claims that the financial regulator is urging them to honor. Financial Supervisory Commission Chairman Thomas Huang (黃天牧) has ordered insurers to pay out on valid COVID-19-related insurance policies after they faced criticism from lawmakers for dismissing claims, canceling policies and delaying payouts. Insurers are looking to limit their losses on policies after underestimating the extent of the disease. There are more than 6.3 million still active COVID-19-related policies and another million waiting for approval, the commission said. As of Monday last week, insurers had paid out more to ....