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· 20 new properties to be added to Frasers Hospitality’s portfolio over the next four years
· Enhanced investment capabilities enable stronger alliances with business partners
Singapore, 4 July 2024 – Frasers Hospitality, a strategic business unit of Frasers Property, is fortifying its international expansion through collaborations with capital partners and third-party hotel operators that complement its operational excellence within the extended stay segment. This business transformation strengthens the position of Frasers Hospitality as an investor and operator of choice within the long-stay lodging segment.
Over the past 18 months, on top of its ongoing focus of opening new properties in key gateway locations, Frasers Hospitality acquired its inaugural premium rental apartment assets in Shenzhen, China and Osaka, Japan, respectively, together with joint venture partners.
In addition, as an extension of its current extended-stay portfolio offering, Frasers Hospitality is partnering with YOTEL to launch the brand’s first YOTEL property in Japan in early 2025. The site was acquired and developed by Frasers Hospitality, and is strategically located within walking distance to Tokyo Station, at the city’s most popular dining and shopping enclave.
“In response to growing demand across different hospitality segments, Frasers Hospitality
has been evolving to reinforce our position as a partner of choice. Given our renowned hospitality excellence, the move to strengthen our investment capabilities to complement
our management expertise will fuel our future expansion,” said Ms. Eu Chin Fen,
Chief Executive Officer of Frasers Hospitality. “Our recent partnership with YOTEL in Japan and joint ventures formed in China and Japan exemplify our ability to forge strong alliances with industry leaders. Concurrently, we continue to deepen our presence in existing cities with more properties slated to open in the next few years, including Fraser Residence Taipei that we announced last month.”
Frasers Hospitality opened three new properties in Bahrain, Chengdu and Shanghai in the first half of 2024. An additional nine properties are scheduled to open in the next two years across China and Vietnam.
Recent openings by Frasers Hospitality include:
Modena by Fraser Nansha Guangzhou
Modena by Fraser Nansha Guangzhou sits within Unipark Nansha, a lifestyle destination offering a myriad of shopping, dining and entertainment options, as well as convenient access to five national railways, four inter-city tracks, and five subway lines.
Launched on 1 July 2024, the property features 150 fully furnished studios and one- to two- bedroom suites each equipped with a kitchenette perfect for families and couples. Complementing the stay experience are facilities such as an all-day dining restaurant, meeting rooms, recreation lounge, fitness centre, and yoga room.
Fraser Place Wujiaochang Shanghai
Opened on 15 June 2024, Fraser Place Wujiaochang Shanghai is strategically located in
the core area of Yangpu District's New Jiangwan City, adjacent to the Wujiaochang Urban Sub-centre and close to Fudan University's New Jiangwan Campus.
Featuring 210 modern, stylish guest rooms and suites, dining space, an indoor pool, and a fitness centre, Fraser Place Wujiaochang Shanghai offers a cosy home-away-from-home for short-term and long-term stays.
With access to Shanghai's leading natural ecological green spaces and four major ecological parks, the area is home to numerous internet giants, high-tech innovation enterprises, multinational corporate headquarters, and renowned global universities.
Fraser Place Chengdu
Steeped in elegance, Fraser Place Chengdu epitomises the dynamism and affluence of a vibrant, modern city on the rise. The property is seamlessly connected to a modern mixed development – Chengdu Poly Time Edition and is within a short distance to Global Centre Chengdu, SKP Chengdu, and Chengdu Yintai Centre with an array of retail, dining, and entertainment options.
Boasting 238 meticulously designed units, ranging from studio deluxe king to three-bedroom executive apartments, the property also features an all-day restaurant, gymnasium,
yoga studio, sauna, indoor swimming pool, residents’ lounge, and a meeting room.
Fraser Suites Al Liwan Bahrain
Opened on 18 February 2024, Fraser Suites Al Liwan Bahrain is Frasers Hospitality’s third serviced residence in the Kingdom of Bahrain. The 63-room property features a range of premium-designed one-, two- and three-bedroom apartment suites, each furnished with a kitchen, perfect for business and leisure travellers looking for a home-away-from-home experience. Dining options include a lobby café offering delicious pastries, and a variety of cuisines to choose from at the nearby mall.
Strategically located in the vibrant Al Hamala neighbourhood, a suburban area in the northwestern region of the main island, Fraser Suites Al Liwan Bahrain is located close to Dumistan Beach, Sakhir Desert in Al Riffa and Zallaq town, home to the Al Zallaq Mosque. The UNESCO world heritage site, Dilmun Burial Mounds, is easily accessible.
Premium Rental Apartments in Shenzhen, China and Osaka, Japan
In May 2023, Frasers Hospitality made its maiden acquisition of premium rental apartment assets in China and Japan with a combined asset value of approximately S$170 million.
The 325-unit premium rental apartment in Shenzhen, China, is a leasehold asset jointly acquired with Tishman Speyer situated in the heart of the Luohu commercial and shopping district. Within walking distance of the nearest train station, the property is well-positioned to benefit from Luohu’s strategic location as a key transportation hub between Shenzhen and Hong Kong as well as the district’s future growth potential with the launch of Luohu’s urban renewal plans in the next decade.
The 124-unit premium rental apartment in Osaka, Japan, is a freehold asset acquired through a joint venture with Alyssa Partners. It is situated in the Namba precinct, a major commercial district in Osaka, and is within walking distance of the nearest subway station.
The acquisitions add to Frasers Hospitality’s expanding portfolio in North Asia with close to 3,400 units in 16 properties across China, Japan, and South Korea.
Looking Ahead
Over the next four years, Frasers Hospitality will open another 20 properties, including the nine properties scheduled to open over the next two years, as it continues to ride on the travel recovery trajectory post-pandemic.
Spanning an extensive accommodation offering across Asia Pacific, Europe, the Middle East, and Africa, Frasers Hospitality strives to continue being the preferred choice for guests and travellers with innovation and personalised service offerings by anticipating customers’ evolving expectations.
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