Palasia_Hotel

Palasia Hotel

Palasia Hotel

Palauan hotel

Palasia Hotel is a hotel in Koror, Palau. It is the tallest building in Palau with 10 floors and a height of around 36m.[1] The building cost $1 million to build and was funded by Taiwan.[2]

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History

In January 1995, Chen Ding-nan, president of the Asia-Pacific section of the Kuomintang’s (KMT's) Central Investment Holdings Company, visited Palau. By August 1995, Chen had made an agreement with Palauan politician Alan Seid to build the Palasia Hotel.[3] Taiwan held 80 percent ownership and Palau held 20 percent. Due to the problems associated with property purchases by foreigners the hotel was built on Seid's land.[4] The hotel opened on 24 August 1998.[5]

The Taiwanese stake in the Palasia Hotel is not held by the government of Taiwan but by the KMT political party in its private capacity. In the democratic era this has made it a subject of controversy with an investigation by the Ill-gotten Party Assets Settlement Committee.[6]

In 2018 the Taiwanese government blocked the KMT investment vehicle which owns the hotel from selling it.[7][8]

See also

References

  1. [1]
    "Palau's tallest buildings - Top 20". Emporis. Archived from the original on 11 May 2015. Retrieved 22 July 2021.
  2. [2]
    China in Oceania: Reshaping the Pacific? (Page 184). Berghahn Books. March 2010. ISBN 9781845456320. Retrieved 22 July 2021.
  3. [3]
    Harwit, Eric (1 July 2000). "Taiwan's Foreign Economic Relations with Developing Nations: A Case Study of Its Ties with Palau" (PDF). The Contemporary Pacific. 12 (2): 465–479. doi:10.1353/cp.2000.0054. hdl:10125/13547.
  4. [4]
    "Taiwan and Palau: How to maintain this diplomatic alliance? (Page 9/13)" (PDF). Netjournals. 10 June 2013. Retrieved 22 July 2021.
  5. [5]
    "Palasia Hotel Palau". Palasia Hotel. Retrieved 22 July 2021.
  6. [6]
    Hsu, Stacy (17 January 2019). "Palau hotel probe not just a holiday: assets committee". taipeitimes.com. Taipei Times. Retrieved 25 October 2021.
  7. [7]
    "Taiwan blocks Palau hotel sale to preserve ties". www.rnz.co.nz. Radio New Zealand. 4 September 2018. Retrieved 25 October 2021.
  8. [8]
    "Chinese Nationalist Party blocked from selling Palasia Hotel, Taiwan media reports". islandtimes.org. Island Times. 4 September 2018.
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