Global serviced residences group, Frasers Hospitality, announced it will expand to gain 25 new properties at the end of 2012.
Its aggressive moves began two months ago with the opening of the group's fourth property in Singapore – Frasers Residence Orchard on the prestigious Orchard Road, offering 72 units. These range from one-bedroom studios to five-bedroom penthouses.
Later this year, several properties are poised to open their doors across Asia-Pacific. In China, the company will launch a Frasers Place in Shanghai, a Frasers Residence in Guangzhou and a Frasers Suites in Suzhou. Bangalore will get a Frasers Place and Residence and Jakarta, a Frasers Suites. The company also intends to set up a presence in Chengdu, Doha and New Delhi.
In 2012, it expects to pick up momentum, opening of 13 properties around the world.
Choe Peng Sum, chief executive officer of Frasers Hospitality, said: “We are embarking on our most ambitious expansion phase.” He said the group sees high occupancy across its brands, which facilitates and drives growth. “Occupancy across all our properties worldwide is over 80 percent, signalling a strong upswing for the extended stay market.”
For more information, visit www.frasershospitality.com
Alisha Haridasani
