By Crystal Hsu / Staff reporterHotel operator Sunrise International Development Co (和昇休閒) has approved plans to acquire local restaurant chain Zoe International Group (展圓連鎖餐飲) to expand its economies of scale and diversify income sources, a senior executive said yesterday. Sunrise, which also owns jewelry store Isabella Gold (伊莎貝拉金飾), operates 13 medium-sized resort hotels and inns in scenic areas in Taiwan and Japan. Established in 1999, the restaurant operator reported an average annual revenue of NT$7 billion (US$225.42 million) over the past three years. Su said Sunrise would buy only Zoe International’s brands and kitchen equipment. The sharp decline in Chinese tourist numbers has had little impact on Sunrise, with local tourists accounting for 80 percent of its clientele, he said.

Source: Taipei Times March 10, 2017 16:02 UTC