Feb 15, 2022
Frasers Hospitality, a member of Frasers Property Group, kicks off the year with an entry into a new market in Southeast Asia and will open its first property in the heart of Phnom Penh. By 2026, Frasers Hospitality will have three properties in key commercial districts:
• 88-room Capri by Fraser, Phnom Penh / Cambodia – Opening Oct 2022
• 78-room Capri by Fraser, City Centre Phnom Penh / Cambodia – Completing in 2024
• 200-room Fraser Residence Sen Sok, Phnom Penh – Completing in 2026
As Cambodia plans its recovery from the pandemic, international businesses have expressed interest in growing their presence in the capital, and tourists are earmarked to return. Prior to that, an estimated 60% of international travellers visited Phnom Penh for business in 2019, with demand for long-stays driven by single expatriates and families.
The country’s Finance Ministry projected in January 2022 that the economy would grow by about 5.6%. This growth will be from new trade deals, increased public spending, and a gradual recovery in investment confidence despite the setback from the Omicron variant, reported Focus Economics, a leading provider of economic analysis and forecasts for 131 countries. Meanwhile, the 2022 Management Report of the Law on Finance in Cambodia highlighted a 4.1% continued growth in the services industry as the hotel, restaurant and tourism sectors push on with recovery plans.
Cambodia is an attractive location, having one of the highest vaccination and booster rates globally and few border restrictions. A new airport, currently under construction in Phnom Penh, will support visitor arrivals, which saw year-on-year growth between 2010 and 2019. According to the master plan projections pre-pandemic, the new airport will be capable of handling 13 million passengers a year in the first phase, 30 million passengers in the second phase that is to be ready by 2030, and up to 50 million passengers in 2050 in the third phase.
Ms Tonya Khong, Senior Vice President, Head of Asia Pacific at Frasers Hospitality, said, “In the last decade, Phnom Penh has evolved into a thriving and vibrant city. Coupled with a young, dynamic economy and strong pandemic recovery measures in Cambodia, we are excited to introduce our range of Frasers Hospitality brands to cater to different markets and offer the quality experiences we are known for.”
The outlook for Southeast Asia is also slated to be promising, especially with the largest free-trade bloc in the world, the Regional Comprehensive Economic Partnership (RCEP), coming into force this year. Investors and analysts expect the trade deal to encourage more business activities and engagement across participating countries.
“Our three properties will be operational in the next few years and ready to accommodate the return to travel, as well as the anticipated boost from regional events such as the 2023 Southeast Asian Games and the RCEP. Moving into Cambodia signals our long-term ambition to grow our presence in the country and Southeast Asia.”
Capri by Fraser For The Versatile Traveller
Many business travellers are now trying to get the best of both worlds as they combine business and leisure trips. Tapping on the ability to work remotely and explore new destinations at the same time, the Capri by Fraser brand is well-poised to accommodate this new class of travellers.
Guests can expect the hallmarks of the Capri by Fraser brand such as the Spin & Play concept, where they can utilise self-service laundrettes while having a go at video games on the latest consoles, and a state-of-the-art 24-hour gymnasium.
See and be seen at Capri by Fraser’s signature social space The Den, a large communal and versatile space fitted out with the latest technology that is perfect for workcations. Hustle and huddle with your colleagues – virtually or in-person – in the day; wind down over drinks at night.
For those looking for the perfect Instagram photo to share, Capri by Fraser, Phnom Penh offers its pièce de resistance: breath-taking views of the city and the Mekong River at night.
Home In The Best Locales
Both Capri by Fraser properties are located in the heart of Phnom Penh and are only a 5-min drive from each other. Both properties will have a mix of hotel rooms, studio apartments and one-bedroom units, designed to cater to transient business travellers and mid-level executives on extended stays.
In the vicinity are banks, finance, real estate and pharmaceutical companies, as well as non-profit organisations. The properties are also within walking distance of government offices, embassies6, popular malls and F&B outlets.
Fraser Residence Phnom Penh is in Sen Sok, an up-and-coming district on the northwest fringes of the city centre. Slated to accommodate expatriates on extended stays, the serviced apartment is part of an integrated development that includes a retail mall, medical centre and an office tower. It is also close to amenities such as international schools, malls and a golf course, and just a 15-min drive to the central business district and industrial parks.
Growing Capri by Fraser
Capri by Fraser, Phnom Penh will be the third property under the brand to open in two years. In December 2021, Capri by Fraser, Bukit Bintang / Kuala Lumpur welcomed its first guests. Located in the buzzy shopping district of the Malaysian capital, the 319-room property is close to famous spots like luxury mall Pavilion Kuala Lumpur and the Tun Razak Exchange (TRX) development, which is poised to be Malaysia's new international business and financial district.
The 151-room Capri by Fraser, Leipzig / Germany started operations in July 2020 and is a stone’s throw away from the city’s central train station and popular attractions such as Leipzig Opera and Old Town Hall. In keeping with the brand’s ethos of being design-driven, the designers took note to ensure that the interiors celebrate Leipzig’s musical history.
The addition of the two new Capri by Fraser properties brings the brand’s portfolio of existing and upcoming projects to 2,800 rooms across 14 properties in key cities such as Barcelona, Berlin and Singapore.