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)