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The Rise of RegentJuly 12, 2010 By: Meagan Drillinger
After a bidding war among some of the world's leading luxury hotel groups, Formosa International Hotels Corporation (FIHC) has acquired Regent Hotels and Resorts and is bringing the brand home to Asia.
The new chairman, Steven Pan, will work to bring the brand back to its former glory. Other appointments include founder Robert Burns as honorary chairman and Ralf Ohletz as president.
Regent's heyday was the 1980s and 90s, when Regent Hong Kong and Regent Beverly Wilshire were crown jewels. Properties in production (in New York, Bali, Milan and Istanbul) opened as Four Seasons when the brand was sold to Four Seasons and then Carlson.
Regent has its sights set on China, seeing as it is the bourgeoning capital in Asia tourism. Other gateway cities will include Hong Kong, New York, Los Angeles, London and Shanghai. Pipeline projects include those in Abu Dhabi, Bali, Bangkok, Doha, Dubrovnik, Gurgaon, Kuala Lumpur, Maldives, Phuket and Puerto Rico.