Focus Taiwan
Date: 2018/03/17
By: Jiang Ming-yan, Chen Wei-ting and Frances Huang

Taipei, March 17 (CNA) Taiwan-based Regent Hotels Group will set up a joint venture with the United Kingdom’s InterContinental Hotels Group (IHG) in a bid to speed up the pace for the Taiwanese hotelier to expand its reach in the global market.

Regent Hotels, known as Formosa International Hotels Corp. in Taiwan, said its board of directors has approved a proposal to establish the joint venture — Regent Hospitality Worldwide (RHW) — with the Taiwanese partner to hold a 49 percent stake and the British partner to own the remaining 51 percent.

Steven Pan (潘思亮), chairman of Formosa International Hotels, which bought the luxury brand Regent in 2010, will serve as chairman of RHW.

RHW will serve as a vehicle for Formosa International Hotels to extend its reach, while the Taiwanese firm will continue its expansion efforts in Taiwan.    [FULL  STORY]