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) near Taipei Railway Station, Taipei Garden Hotel (台北花園大酒店) near Ximen MRT Station, Sun Dialogue Hotel (繪日之丘) in Chiayi City and Grand Cosmos Resort Ruisui (瑞穗天合) in Hualien County.
Photo: Wang Yi-hung, Taipei Times
The group also runs the off-site restaurant Cosmos Banquet at the Taipei International Convention Center.
To achieve growth and sustainability in the capital markets in 2024, the group intends to add affiliated Yaward Resort Taoyuan (悅華大酒店) to its portfolio, among other things, Chang said in the report.
The group is positive that the tourism industry would thrive in the post-COVID-19 pandemic era and it is collaborating with Phoenix Tours International Inc (鳳凰旅行社) to develop a new hotel in Pingtung County’s Siaoliouciou Island (小琉球), which might open next year, the report said.
The group would also launch a new design hotel, named Cosmos Boutique (天成丰閣), in Taichung in 2024, it said.
In addition, the group is seeking to tap into the high-end camping market, a life experience that is gaining appeal with travelers, it added.
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