‘Tourism will always be the island’s core competence’

GUAM—Tan Holdings Corp. chief executive officer Willie Tan believes that the tourism industry “will always be the island’s core competence.”

During the grand opening of Fiesta Resort Guam last Saturday, Tan pointed out that Guam and Saipan are poised to gain from the emerging markets of China, Korea, and other Asian countries.

“We are good at this and we just need to keep improving and protect our positioning,” he said, adding that he believes both Saipan and Guam will be able to continue to keep the flow of tourists from Japan.

“We just have to keep doing our homework and know how to take care of Japanese tourists and our new customers in the changing environment,” he said.

Tan also stressed that, with the challenges being faced in attracting tourists, there also lies opportunities, which explains why Tan Holdings took the risk of investing in the former Dai-Ichi Hotel Guam.

As the world becomes more globalized, Tan said that tourists’ needs change too: they have more informed choices due to the Internet revolution, increased spending power and freedom of the Chinese, and more access to new places for everybody. At the same time, security issues hinder travel activities.

“While the above means more competition and challenges for Guam and other island destinations in Micronesia, these also spell out opportunities for the tourism industry,” he said. “I do think the risk we took four years ago is all worth it.”

He cited the effect of more than 7,000 U.S. Marines who will soon be moving from Okinawa to Guam.

Tan narrated the road that Tan Holdings took when it purchased the hotel to its grand opening last Saturday, beginning with his receiving a business proposal informing him of the sale of Dai-Ichi Hotel Guam.

After winning the bid to purchase the hotel, Tan Holdings ended up with two Dai-Ichi properties—Saipan and Guam.

Tan Holdings invested $50 million for the renovation of both hotels and re-launched them as Fiesta Resort Guam and Fiesta Resort and Spa Saipan.

“I can say it was tough, exciting and promising,” he said. “It is not just the risk that we took when we bought the hotels. Tan Holdings’ enterprising spirit always urges us to evaluate long-term prospects of any business, versus the local economy, versus the changing business landscape, local and regional.”

Tan also expressed appreciation to all involved in the revival of the hotels, as well as its employees.

“It may be an old saying, but in business, especially in a service industry like hotel, people are our best assets,” he said.