Frasers Hospitality Extends Footprint with 48 new properties
Frasers Hospitality, a member of Frasers Centrepoint Limited, is on track to meet its global target of 30,000 units with the openings of 48 properties across Asia, Europe, the Middle East and Africa by 2019.
These openings include debuts in 21 new cities: Changsha, Dalian, Nanchang, Tokyo, Gurgaon, Johor Bahru, Penang, Putrajaya, Balikpapan, Yangon, Riyadh, Khobar, Dammam, Jeddah, Abuja, Lagos, Brazzaville, Berlin, Hamburg, Stratford-upon-Avon and Valletta.
Mr Choe Peng Sum, Chief Executive Officer of Frasers Hospitality said, "Global expansion is very much on the agenda of Frasers Hospitality, and we will always be on the lookout for growth opportunities whether it be organically or through acquisition. Reaching the 30,000 unit growth mark in the next three years not only increases our portfolio by 30 percent, but further anchors the group’s presence in dominant cities worldwide. The rapid expansion plans strengthens our global footprint which is in line with our vision to be a leading global hospitality group."
Europe continues to be of strategic significance and value to Frasers Hospitality's growth plans. This is reflected in its recent acquisition and rebranding of four boutique hotels located in key cities and university towns in the UK: Avon Gorge Hotel, Bristol; Magdalen Chapter, Exeter; Montpellier Chapter, Cheltenham and Hotel Seattle, Brighton. These hotels, along with two new properties will add to a total of 35 Malmaison and Hotel du Vin properties in the UK. Following the group's recent launch of Capri by Fraser Barcelona in Spain, Capri by Fraser Frankfurt in Germany and Fraser Suites Geneva, Frasers Hospitality is also set to open its first properties in Berlin and Hamburg.
In the Middle East, occupancy has been consistently high since 2009 when Frasers Hospitality first launched its properties in Dubai and Doha. In view of this strong demand, Frasers Hospitality will increase its portfolio from four to 11 properties aggregating more than 1,600 units. These additional properties will open in Dubai, Doha, and with new forays into Riyadh, Khobar, Dammam and Jeddah. The opening of Fraser Suites Abuja in Nigeria later this year will mark Frasers Hospitality's venture into its fourth continent, Africa. This will be followed by openings in Lagos and Congo.
China remains one of the integral and fastest-growing markets for Frasers Hospitality as it advances into emerging high growth cities such as Changsha, Dalian and Nanchang. Due to open will be the 345-unit Modena by Fraser Changsha in 2016, and the 259-unit Fraser Suites Dalian Europark and 174-unit Fraser Place Nanchang by 2017. In addition, Frasers Hospitality will continue to strengthen its presence with more openings in key cities such as Shanghai, Shenzhen and Chengdu.
The group's exponential growth will continue in Asia with a number of key openings in Indonesia, Thailand, Singapore, and Malaysia. These openings will constitute half of the 48 properties in the pipeline including Frasers Hospitality's first serviced residence in the city of Gurgaon in India. The 85-unit Fraser Place Gurgaon is due to open in 2017.
Frasers Hospitality's global expansion strategy is in line with its vision to be a leading global hospitality group known for exceeding the evolving expectations of international travellers. Since 1998 when it first established two serviced residences, Frasers Hospitality has grown its brand offerings to include serviced residences, hotel residences and lifestyle boutique hotels. Its global portfolio, including those in the pipeline, stands at 139 properties and more than 80 cities and 22,800 keys worldwide.
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