China: Frasers Hospitality has announced it is on track to double its number of properties under management.
The announcement was made at the opening ceremony of Modena by Fraser Changsha.
Located in the capital of Hunan Province, the 354-unit Modena by Fraser Changsha is one of 14 properties set to open over the next four years to meet rising demands for inbound and outbound travel in the country. The opening of new properties in the pipeline will strengthen Frasers‘ presence in the fast-growing cities of Shenzhen, Shanghai, Tianjin, Nanjing, Chengdu and Wuhan, while extending the group’s footprint to new cities such as Dalian, Nanchang and Hefei.
“China is our fastest growing market and we are excited to double our inventory in the world’s second largest economy to 25 operating properties across 15 cities by 2021. The upcoming openings across tier 1 and tier 2 cities in China reinforces Frasers Hospitality’s confidence in the country’s long-term growth potential. The international and domestic travel markets are expected to expand on the back of China’s robust economic growth and rising incomes. To accelerate our growth momentum in the long run, we will also be strategically targeting second-tier cities such as Dalian, Nanchang and Hefei that are emerging as important centres for business and tourism,” said Choe Peng Sum, CEO of Frasers Hospitality.
“As China’s leading serviced apartment brand, we will continue to leverage on cutting-edge technology to deliver personalised, differentiated and memorable travel experiences tailored to the needs of Chinese travellers. Our market research identified smart hotel services as the main factor that influences booking decisions among China’s 400 million millennials. To enhance our engagement with tech-savvy guests across both online and offline touch points, we have integrated various initiatives such as e-Concierge services and specially curated e-travel guides into the Capri by Fraser experience. In addition, we recently refreshed the Modena by Fraser brand with an emphasis on simplicity, sustainability and holistic wellness for guests seeking a private sanctuary. Strengthening our brand offerings in China will also support the expansion of our brands globally by attracting Chinese travellers to our award-winning brands during their outbound travels,” he added.
Frasers’ portfolio in China includes properties across established and emerging cities, with serviced residences located in Beijing, Chengdu, Guangzhou, Nanjing, Shanghai, Shenzhen, Tianjin, Wuxi and Wuhan.
Frasers Hospitality’s global portfolio, including those in the pipeline, stands at 148 properties in more than 80 cities with over 23,600 keys.</p
