Frasers Hospitality has announced that it will add seven new properties to its portfolio in China over the next four years.
This news comes after the opening of Fraser Residence Chengdu in June 2020, where occupancy rates have hit a year-to-date high of 90 per cent.
With international travel halted in recent months, China has seen a rise in domestic travel, with the country reporting 230 million domestic trips in early May – a rise of three per cent from pre-pandemic figures.
The properties will include: Fraser Residence Chongqing, Fraser Suites Pazhou, Guangzhou, Fraser Residence Shenzhen, Fraser Residence Nanjing, Fraser Residence Tianjin, Fraser Place Chengdu, and Modena by Fraser Nanjing. For more details, see further down in the article.
Frasers Hospitality currently operates 12 properties across 12 cities in China. The new signings will bring its total inventory in the country to over 4,500 keys.
Mark Chan, Chief Operating Officer of Frasers Hospitality, commented:
“Despite the global economic slowdown caused by the Covid-19 pandemic, China remains the world’s second largest economy and one of the most-watched inbound and outbound tourist markets, As such, it will continue to play an integral role in our expansion plans as we seek to bring Frasers Hospitality’s trademark intuitive service and Gold-Standard residences to key cities globally.
“Our growth plans in the market are backed by the significant business potential we’re observing in China, which has remained steadfast amidst the challenges brought about by Covid-19. China was the only major economy in the world to have expanded in 2020, registering a 2.3 per cent GDP growth, and is expected to continue on this upward trajectory in the coming years.
“We look forward to tapping on this strong recovery momentum and introduce more premier developments in China’s key and second-tier cities.”
The serviced residences provider currently operates properties across Beijing, Changsha, Chengdu, Dalian, Guangzhou, Shanghai, Shenzhen, Tianjin, Wuhan, and Wuxi. The new openings bring the global portfolio to more than 120 properties in over 70 cities worldwide.
Modena by Fraser Nanjing
This property will open in October 2021 on the south banks of the Yangtze River within skyscrapers in the central business district. The property will be the first under the Modena brand to open in this area, and is aimed to “appeal to modern travellers who seek simplicity, sustainability and holistic wellness in stylish, contemporary accommodation”.
Fraser Residence Nanjing
This new extended stay property is scheduled to open in 2022 in Nanjing, located in the foothills of the Zhongshan Mountain National Park. It is described as “an ideal accommodation for the corporate executive to disconnect from the hustle and bustle of the city”.
Fraser Suites Pazhou, Guangzhou
Fraser Suites’ second property in Guangzhou is set to open in 2022 with 228 fully furnished apartments, recreational facilities and convenient access to transport links. The new property will be located across the Pearl River within Pazhou, which is home to tech and electronic giants such as Alibaba, Tencent and Gome, and the Guangzhou International Convention and Exhibition Centre.
Fraser Place Chengdu
Following the success of Fraser Residence Chengdu last year, the brand will introduce the Fraser Place brand to the capital of China’s southwestern Sichuan province in the second quarter of 2022. The property will form part of an upscale, mixed-use landmark high-rise development designed by Skidmore, Owings and Merrill (SOM), SWA Group and OVAL Design. The property will be well-located, 400 metres from the metro station.
Fraser Residence Tianjin
The northern coastal city of Tianjin will see its third hotel from Fraser Hospitality in the third quarter of 2022, following the launch of two Fraser Place properties. The new property will be located in the Binhai New Area, close to upscale commercial, leisure and entertainment attractions and five major commercial complexes.
Fraser Residence Shenzhen
This property will open in central Qianhai in 2025, close to the Hong Kong border in Shenzhen’s Nanshan district. The property will have nearby public transport links and will be close to shopping, dining and leisure venues.
Fraser Residence Chongqing
Also opening in 2025 will be the Fraser Residence Chongqing, located in the mountainous southwestern city surrounded by the Jialing and Yangtze. The property will be located in the Jiangbeizui central business district in the city’s Liangjiang New Area, and is designed to “attract the high-powered executives flocking to the financial services institutions” in the area.