Hanwha Hotels & Resorts Spins Off F&B Division... Establishes 'The Tastable'

CEO Byun Seong-gu of The Taste Table (right in the photo) and employees are celebrating the launch ceremony. (Photo by Hanwha Hotels & Resorts)

Focus on Specialization of F&B Business Division and Strengthening Competitiveness of Core Leisure Business

[Asia Economy Reporter Yuri Kim] Hanwha Hotels & Resorts announced on the 2nd that it has established a new corporation, The Tastable Co., Ltd., by physically separating its Food & Beverage (F&B) business division. The Tastable held its inauguration ceremony on the 1st and officially began operating as an independent management entity.

The company stated that this split was carried out in the same manner as the Aqua Planet spin-off in April, separating the F&B business division with specialized expertise so that each business division can independently focus on its core operations. By enabling independent decision-making for the F&B division, it has become possible to respond quickly and flexibly to urgent matters such as new business initiatives.

Byun Sung-gu, CEO of The Tastable, said, "This split was conducted to professionalize and strengthen the competitiveness of the F&B business," adding, "We will continuously explore diverse sustainable F&B business models in line with the increasingly fierce market competition and changing trends after COVID-19."

The Tastable operates some of the country's top dining and food brands, including the fine dining restaurants in the 63 Building, independent Chinese cuisine brands such as Dowon Style and T1, as well as food and beverage consignment businesses at golf courses and convention centers. Recently, it has been striving to pioneer the premium meal kit market through the launch of the 63 Dining Kit brand.

Meanwhile, Hanwha Hotels & Resorts announced plans to focus on strengthening the competitiveness of its core leisure business following the physical separation of the F&B business division.

This content was produced with the assistance of AI translation services.