By: By Chen Wei-ting and Y.F. Low, Central News Agency
The Tourism Bureau has decided to revise the regulations regarding the establishment of hotels, in an effort to prevent land hoarding.
According to the revision to the Regulations for Administration of Tourist Hotel Enterprises, which will be implemented in late January, any hotel projects that do not begin operation within nine years of being approved by the bureau will automatically become invalid.
The Tourism Bureau explained that after a hotel developer obtains approval from the bureau for a hotel project, it must obtain a construction license within two years, then gain a usage license within five years and begin operation within one year after that. The date of operation can be postponed for one year if necessary. [FULL STORY]