China: Frasers Hospitality has opened its second serviced residence in Tianjin, China.
Located close to the historic Nankai district, the 192-unit Fraser Place Tianjin joins the 104-unit Modena by Fraser Heping Tianjin, which opened in 2010.
Fraser Place Tianjin is the company’s 15th property in China, where it aims to double its portfolio to 30 properties with more than 7,000 serviced apartments by 2019.
“Despite a slowdown in economic growth, there is no denying that China will continue to remain the Asian economic powerhouse, which is expected to double in size by 2020 from 2010 levels,” said Choe Peng Sum, CEO of Frasers Hospitality. “We plan to continue strengthening our presence in China with our range of serviced residence offerings that cater to the different segments of the business and leisure travel market.”
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