Palasia Hotel | |
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General information | |
Location | Koror, Palau |
Coordinates | 7°20′35.9″N134°28′48.7″E / 7.343306°N 134.480194°E |
Opening | 24 August 1998 |
Technical details | |
Floor count | 10 |
Website | |
http://www.palasia-hotel.com/ |
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]
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]
The Kuomintang (KMT), also referred to as the Guomindang (GMD), the Nationalist Party of China (NPC) or the Chinese Nationalist Party (CNP), is a major political party in the Republic of China, initially on the Chinese mainland and then in Taiwan since 1949. It was the sole party in China during the Republican Era from 1928 to 1949, when most of the Chinese mainland was under its control. The party retreated from the mainland to Taiwan on 7 December 1949, following its defeat in the Chinese Civil War. Chiang Kai-shek declared martial law and retained its authoritarian rule over Taiwan under the Dang Guo system until democratic reforms were enacted in the 1980s and full democratization in the 1990s. In Taiwanese politics today, the KMT is a centre-right to right-wing party, and is the largest party in the Pan-Blue Coalition. The KMT's primary rival in elections is the Democratic Progressive Party (DPP) and its allies in the Pan-Green Coalition. As of 2023, the KMT is currently the largest opposition party in the Legislative Yuan. The current chairman is Eric Chu.
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