Taiwan Hotels Prepare for U.S. Flight From Japan.
Amid the volatile market movements in the wake of Japan’s recent distasters, Taiwan hotel shares were up sharply Friday on expectations of droves of people arriving in Taiwan from Japan.
Taiwanese media reported Friday that the U.S. had evacuated some citizens from Japan to Taiwan, leading investors to buy Taiwan hotel shares in anticipation that more would be coming. Sheila Paskman, a spokesperson for the American Institute in Taiwan, the de facto U.S. embassy there, said in a phone interview that 97 Americans had already left Japan for Taiwan, arriving early Friday morning. Some were private U.S. citizens, but the bulk were relatives of American government workers in Japan.
“We’ve spoken to a lot of hotels in [Taipei], because we’re preparing for the largest number who could possibly come,” said Ms. Paskman. According to Benson Huang, an analyst at Horizon Securities in Taipei, it isn’t just Americans seeking refuge who will give a lift to hotel business. Some local hotels also have plans to launch special packages for Japanese planning extended stays in Taiwan. Japan has long been a crucial source of revenue for Taiwan’s hospitality industry, which has been waiting, so far in vain, for the announcement of an independent tourism scheme from mainland China.
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