Booming Tourism in Taiwan Drives Investment in Hospitality Ind.

Taipei, Aug. 10, 2012 (CENS)--With increasing tourist arrivals to Taiwan, investment in the hotel sector amounted to NT$ 78.6 billion

(US$ 2.62 billion) that will have added over 10,000 rooms over the next six years, with investments in preparatory projects for tourism hotels from 2012 to 2013 reaching about NT$ 10 billion (US$ 333.3 million), based on statistics compiled by Taiwan’s Tourism Bureau.

Tourist arrivals to Taiwan reached 3.58 million in the first half, surging 25% year on year (YoY), with 29% of all arrivals last year being mainland Chinese, exceeding Japan’s 21%. Therefore, mainland Chinese tourists to Taiwan will likely exceed two million this year.

The investment peak in the hospitality sector in Taiwan will be 2012 to 2018. A major property recently completed is the Okura Prestige Taipei near the Hotel Royal, Grand Formosa Regent amid the Zhong Shan designer boutique area, which saw NT$ 3.025 billion (US$ 100.83 million) invested to add 208 rooms to the city.

Many well-known hotel groups as Le Meridien Taipei, Fullon Hotels & Resorts, Sheraton Taipei Hotel, and Caesar Park Hotel & Resorts plan to invest further starting next year to build more properties island-wide.

Yihwa International Hotel and Jaguar Hotel led in building new properties in northern Taiwan, with the former investing over NT$ 10 billion (US$ 333.3 million) to add over 300 rooms, and the latter’s reaching NT$ 5 billion (US$ 166.6 million) and backed by The Miramar Group.