Frasers Hospitality
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Press Releases

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05 Jul 2002 - London
When Fraser Serviced Residences launched their London division of serviced apartments in January 2002, occupancy levels were good, but needed improving. World events such as September 11th, time of year and the sheer uncertainty of launching a new product all meant that levels weren t as high as they could be. Seven months later the company are pleased to report that they have 90 ? 100% occupancy levels at the majority of their properties. Fraser Serviced Residences has a serviced apartment portfolio of properties in Singapore, Manila, Seoul and London. The London properties are found in prime locations in Kensington, Chelsea and Canary Wharf, each residence has its own unique style in-keeping with its location. Fraserfs success is due to the eexcellence of the productf comments Guus Bakker, Executive Director who has worked in the serviced apartment industry for a number of years, he continues: gFor the size and quality of accommodation and the services that we provide, our prices work out to be more economical than a five star hotel. We also offer more flexibility, ideal for people who are away from home for long periods of time. The fact that you have an apartment, as opposed to a hotel room, means that it is ideal for families including children and maybe staff who you have staying with you. You also have the choice of whether you wish to dine in or out at whatever time you like and generally the level of privacy is far greater than that of a hotel.h Guss continues: gHowever, if you are away from home and would relish some company, our recently launched cafe bar in Fraser Place, Canary Wharf is proving to be successful, we have even started serving breakfasts there. Also already in place in our Singapore properties and something that we are planning to include in our London ones are programmes inclusive of spouse/children activities (Guus ? please can you elaborate) With the strength of success in Singapore and London, the company has recently launched two new properties in Seoul and Manila and both properties had a list of people who wished to stay there, even before the buildings were complete. The company plan further expansion both in the UK and in other European gateways, the aim is to achieve 1000 units in Europe by 2005. The company is looking to UK cities such as Glasgow, Edinburgh, Birmingham, and Manchester for furthering their UK operation, whilst are likely to choose Paris as their initial next European capital. Guus continues: gThe serviced apartment industry in the UK remains a relatively young industry. London Residential Research reported that in the planning pipeline at the end of 2000, serviced apartments comprised only 11% of the conventional hotel construction. From what we have seen in the last seven months, more and more people are finding serviced apartments are the most pleasurable way of staying, both short and long term, when away from home.h For further press information, please contact Ms Claire Duke or Ms Kerry Bacon at TTA Public Relations. Tel: 020 8652 2529 Fax: 020 8643 5393 E-mail: