Taiwanese group Formosa hotels has announced a new management team for Regent Hotels and Resorts, which it has acquired from Carlson Hospitality and Rezidor.
Robert Burns, who created the Regent brand in the 1970s, will stay on and be honourary chairman of the group while Steve Pan will be chairman. Ralf Ohletz, who has a history of working with Regent on some of its most iconic buildings, will be president.
Formosa says it plans to bring Regent back to its former glory and has plans for rapid expansion in Asia.
China will play an important part in the growth and the group is also eyeing Hong Kong, New York, Los Angeles, London and Shanghai.
