Formosa International Hotels Corporation has announced that it will acquire the Regent luxury hotel business from Carlson and the Rezidor Hotel Group AB at a price of USD56 million.
The board of Formosa has approved the setting up of an overseas holding company to acquire the Regent brand and franchise. Currently Regent manages 17 hotels, in operation or under construction, in Europe, Asia, America, and the Middle East, with total inventory of 4,000 guest rooms. In addition it has the license for Regent Seven Seas Cruises that is based in Caribbean Sea area.
Formosa believes this transaction will make it the first Taiwan hotel operator owning a top international hotel chain brand.
This the first time that a local Taiwan hotel brand has acquired an international brand and future Regent hotels will be based on the concept of mixed-use, lifestyle development that encompass hospitality, residential, and commercial components in prime urban and resort locations. It is planned that Regent return to gateway cities such as Hong Kong, Tokyo, Shanghai, New York, Los Angeles, London, Paris, and Sydney.