Lih Pao will build a new complex, while he finishes hotel

  • By Crystal Hsu / Journalist

Developer Lih Pao Group (麗 寶 集團) is moving forward with construction of mixed-use complex near Yuanshan MRT station in Taipei, after announcing Monday last week that it would close unprofitable hotel on Jianguo S Road in Taipei on September 1. .

The group, which operates 13 hotels under the Fullon Hotels and Resorts brand, said it plans to spend NT $ 4.3 billion ($ 154.1 million) to build the resort, which is a joint venture with the National Housing and Urban Regeneration Center (國家 住宅 及 都市 更新 中心).

The complex will consist of two buildings, one of 10 stories and the other of 11, containing residential, commercial and recreational spaces, as well as a new Fullon hotel, the developer said.

Photo courtesy of Fullon Hotel Taipei

The decision to build a new hotel comes amid a difficult operating environment due to the COVID-19 pandemic. The occupancy rate of tourist hotels in Taipei fell below 10% this month, after the government last month urged people to stay at home and banned catering services under a level 3 COVID-19 alert.

The outgoing Fullon Hotel Taipei (福 容 大 飯 hôtel 台北 一 館) recorded an average occupancy rate of 14.57% in the first five months of this year, with daily rates of NT $ 3,187, according to company data.

The occupancy rate fell to 12.9% this month, said the hotel, which opened 15 years ago.

Employees at Fullon Hotel Taipei can choose to work at other properties or subsidiaries, while customers with restaurant and hotel vouchers are eligible for refunds or can redeem them at other locations, Lih Pao said. .

The group also has theme parks in Taichung and hotels in New Taipei City, Taoyuan, Taichung, Kaohsiung, Pingtung City and Hualien City.

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