S. R. Pan

Steven Pan, chairman and CEO of the Formosa International Hotels Corporation, is bullish on his company's expansion plan. (Peter Mah, Taiwan News)
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Steven Pan holds his father - Taiwan's pioneering steel magnate, S. R. Pan -in great esteem.
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One of Taiwan's rising stars, Pan is chairman and chief executive officer of the Formosa International Hotels Corporation.The U.S.-educated Pan - he went to UC Berkeley and earned his MBA from Columbia University - is responsible for Formosa International's business development programs.In addition to the Grand Formosa Regent Taipei, the corporation also owns two stand-alone upscale dining establishments - Bando 8 and Wasabi which recently opened in Taipei's Hsinyi district.

Pan, who is only in his 30s, says he is bullish on his company's expansion plan.

"I believe 2004 will be a much better year.In the next three years, we will be rapidly expanding," he says.

"We are leveraging on our strength and our brand name because we have been recognized as a leader in the business.Our restaurants are regarded as the best in the city."

A few deals are in the works, says Pan.
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All of the hotel's 700-plus beds got a high-tech mattress that is guaranteed to give its guests quality sleep, says Pan.

"We figured we could spend millions of dollars on our interiors or we could spend millions of dollars to make sure people get a better sleep in our hotel.At the end of the day, we decided to do both," he says.

Pan says he personally worked with mattress factories and tried 10 of their beds over a six-month period.

"I slept on each of them for a week," he says.
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At the hotel, Pan says he plays the role of a consumer advocate.

"I look for new business opportunities and concepts, and of course, I act as the customer advocate," he says."My interaction with the hotel management team is that of a consumer.I relate customers' comments and ask for improvements.In any business, diversity in opinion is very important."

Pan says he is proud of his hotel team.

"We have the highest return-guest rate in Taipei.In fact, more than 50 percent of our guests are repeat customers," he says."I believe that is the true test of a great hotel.That would not have been possible without the day-to-day diligence of everyone who works here."

Pan adds he sees his job not as a series of chores but as a lifestyle.
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"It is a project that I take pride in," says Pan "The restaurant's ambiance and theme are inspired by the greatest calligraphies at the National Palace Museum.