Frasers Hospitality Deepens Footprint in China with Multiple Openings in Key Cities
The grand opening of Fraser Place Binhai Tianjin marks the second property in Tianjin and an additional 16 properties and 3,400 keys will bring China portfolio to 32 properties over the next few years
Singapore -- The grand opening of Fraser Place Binhai Tianjin today signals the continued expansion of Frasers Hospitality, a member of Frasers Property Group, in China.
This marks Frasers Hospitality's second property in Tianjin after Fraser Place Tianjin, which has enjoyed success since its opening in 2016.
"China continues to command international attention and its importance is not to be underestimated. In 2017, China's foreign direct investment grew by 8 percent year-on-year to reach around US$135 billion, an all-time high . In the same year, there were also 35,652 newly established foreign companies, a 28 percent jump compared to the year before," said Mr Choe Peng Sum, Chief Executive Officer, Frasers Hospitality.
"China's huge population and rising consumption power coupled with its self-contained and self-sustaining economy make it an attractive market. The rise of Chinese millennials is also driving growth", added Mr Choe.
Having noted a 10 percent growth in the number of room nights booked by Chinese travellers from FY2016 to FY2017 across its global portfolio of properties, Frasers Hospitality is strengthening its presence in China and leveraging the opportunities of China's burgeoning domestic tourism market. Chinese travellers also account for almost half of the guests in the country, signifying China's booming domestic travel market that is ripe for more expansion within the country.
"We are excited to deepen our commitment to Tianjin. Our first property in the city has proven to be popular, having recorded an average occupancy that is upwards of 90 percent. We look forward to building on this success with the launch of Fraser Place Binhai Tianjin. With this opening, our two properties in Tianjin will complement each other perfectly as they cater to both short-stay and long-stay business travellers as well as to luxury travellers," said Mr Choe.
The stylish Fraser Place Binhai Tianjin is centrally located in the Tianjin EconomicTechnological Development Area (TEDA), close to TEDA MSD shopping centre and the BMT station. The serviced residence also offers direct access to Tianjin's financial district, which is home to 21 banks. This provides an additional option to sister property Fraser Place Tianjin that is situated near the historic Nankai district.
Fraser Place Binhai Tianjin, located in the residential development of Beacon Hill, is well poised to meet the needs of long-stay travellers. The property offers 224 Gold-Standard serviced residences, from studios to two-bedroom apartments. Guests can enjoy a wide range of facilities, including complimentary high-speed Wi-Fi, 24/7 room service, an all-day dining restaurant, a lobby bar, a swimming pool and a gym. For business travellers, smart meeting facilities and function rooms are readily available in many configurations. The property also offers a free shuttle for all guests to enable easy access to the property.
"China is key to our future growth as it currently represents a quarter of our portfolio. The opening of Fraser Place Binhai Tianjin is significant as it underlines our ambitions to grow our presence in China. In addition to entering new Chinese cities, we are also building on our presence in cities that we already operate in so that we may better provide travellers with more options that cater to their needs. Meeting varying and ever-evolving travellers' needs is central to our expansion strategy and we look forward to delivering the best guest experience for all our guests in China in the coming years," Mr Choe added.
About Frasers Property Limited
Frasers Property Limited ("Frasers Property" and together with its subsidiaries, the "Frasers Property Group" or the "Group"), is a multi-national owner-operator-developer of real estate products and services across the property value chain. Listed on the Main Board of the Singapore Exchange Securities Trading Limited ("SGX-ST") and headquartered in Singapore, the Group has total assets of approximately S$38.7 billion as at 31 March 2020. Frasers Property's multi-national businesses operate across five asset classes, namely, residential, retail, commercial & business parks, industrial & logistics as well as hospitality. The Group has businesses in Southeast Asia, Australia, Europe and China, and its well-established hospitality business owns and/or operates serviced apartments and hotels in over 70 cities across Asia, Australia, Europe, the Middle East and Africa. Frasers Property is also the sponsor of two real estate investment trusts ("REITs") and one stapled trust listed on the SGX-ST. Frasers Centrepoint Trust and Frasers Logistics & Commercial Trust are focused on retail, and industrial & commercial properties respectively. Frasers Hospitality Trust (comprising Frasers Hospitality Real Estate Investment Trust and Frasers Hospitality Business Trust) is a stapled trust focused on hospitality properties. In addition, the Group has two REITs listed on the Stock Exchange of Thailand. Frasers Property (Thailand) Public Company Limited is the sponsor of Frasers Property Thailand Industrial Freehold & Leasehold REIT, which is focused on industrial & logistics properties in Thailand, and Golden Land Property Development Public Company Limited is the sponsor of Golden Ventures Leasehold Real Estate Investment Trust, which is focused on commercial properties. The Group is unified by its commitment to deliver enriching and memorable experiences to customers and stakeholders, leveraging its people, knowledge and capabilities from across markets to deliver value in its multiple asset classes For more information on Frasers Property, please visit frasersproperty.com.
About Frasers Hospitality
Frasers Hospitality, a member of Frasers Property Group, celebrates 22 years of offering memorable experiences to guests through its Gold-Standard serviced, hotel residences and boutique lifestyle hotels across Asia, Australia, Europe, the Middle East and Africa. Growing from two properties in Singapore to more than 140 properties in over 70 cities, Frasers Hospitality is now one of the world's largest and fastest-growing providers of serviced and hotel residences. Conceived with the lifestyle preferences of today's discerning business and leisure travellers in mind, the global hospitality operator has three Gold-Standard serviced residences offerings - Fraser Suites, Fraser Place and Fraser Residence, a modern and eco-lifestyle brand, Modena by Fraser, and a design-led hotel residence brand, Capri by Fraser. In addition, it operates two brands of upscale boutique lifestyle hotels in the key cities of UK, Malmaison and Hotel du Vin. With a remarkable list of accolades and awards as recognition of its success, Frasers Hospitality remains committed to anticipating the evolving needs of executive travelers and exceeding expectations with continuous innovation and intuitive service, creating a second home for guests where staff feel like family and residents feel like community. For more information on Frasers Hospitality, please visit frasershospitality.com.
Phone: +65 6415 0323