Frasers Hospitality is on track to complete its global target of 30,000 units by 2019, with 49 openings in Asia, Europe, the Middle East and Africa.
Properties in the pipeline include Tokyo, Yangon, Stratford-upon-Avon, Riyadh, Lagos and Dammam.
Commenting on the group’s growth chief executive officer Choe Peng Sum said:
“Growth 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 per cent, but also strengthens our global footprint in line with out strategy of becoming a leading global hospitality group.”
Opening later this year, Fraser Suites Abuja in Nigeria will be the group’s first foray into Africa, followed by new properties in Lagos and Congo. It is also expanding in China in high-growth cities Changsha, Dalian and Nanchang, where openings are projected later this year and 2017.
Indonesia, Thailand, Singapore and Malaysia will also see new properties along with the city of Gurgaon in India’s first serviced residence due to open in 2016.
In addition, ten new properties will open in Dubai, Doha and Riyadh with the group’s first ventures in Hamburg and Berlin and two new properties in the UK under Malmaison and Hotel du Vin brands.
Including those in the pipeline, the global portfolio now has 140 properties in 77 cities.
Marisa Cannon
