China Information

Friday, December 15, 2006

Taiwan Famous Hotel Entering Fast Food Market in Mainland

Formosa International Hotels Corporation, the famous hotel in Taiwan recently utilized TWD500m (about RMB125m) to purchase all the shares of “Pizza” chain enterprise Domino’s in Taiwan and Beijing. Media in Taiwan believed that this action indicating Taiwan merchant had noticed the potential of development in mainland fast food industry. It was reported by Taiwan media that this buyout by Formosa Hotel of all the Domino’s shares in Taiwan and Beijing was through bidding. The buyout included 115 “Pizza” stores in Taiwan with TWD470m and 7 in Beijing with TWD30m. News from high management of Formosa Hotel revealed that currently their company was still under negotiation with Domino’s on purchasing of the dealership in Shanghai and Tianjin.The total turnover of 122 stores of Domino’s in Taiwan and Beijing this year is estimated to reach TWD1.6b.

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