Frasers apartments to double China presence

The Singapore-based company will add another of its brands and increase capacity to cash in on rising demand and incomes.

FRASERS Hospitality, a Singaporean serviced apartments and hotel company, aims to double its portfolio in China on the back of robust economic growth and strong leisure travel demand fuelled by rising incomes.

“By 2021, we hope to operate some 30 properties around the country where our portfolio now stands at 16,” Choe Peng Sum, chief executive officer, said on Monday.

“In addition to the existing three brands, we are also looking to introduce Malmaison, a collection of boutique style hotels, into the China market within the coming four years.”

The expansion will consolidate the company’s presence in cities such as Shenzhen, Shanghai, Tianjin, Nanjing, Chengdu and Wuhan while extending its footprint to new cities such as Dalian, Nanchang and Hefei.

The gold-standard Fraser serviced residences and the Modena lifestyle brand remain the major drivers for the company in China, along with its high-tech Capri brand, Choe said.

“A mix between apartment and hotel and designed specifically for the ‘always-on’ lifestyle needs of millennial travelers, Capri has the greatest potential for growth in China,” Choe said.

“Ever-increasing land costs and the fast-changing needs of customers will boost the sector's expansion in the country, just like the rapid growth we have seen in Europe, Australia and other parts of Asia.”

Globally, the company, with an operating network of 140 properties and 23,400 keys across more than 80 cities, is well on track to achieve its 30,000-room target by 2019.

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