Building on the successful launch of Fraser Residence Chengdu in mid-2020, Frasers Hospitality, a member of Frasers Property Group, is set to continue on its steady growth course in China in key Chinese gateway cities.
Notable plans within the next four years include the upcoming opening of properties in first and second-tier cities including the debut of Fraser Residence Chongqing, and the addition of Fraser Suites Pazhou, Guangzhou, Fraser Residence Shenzhen, Fraser Residence Nanjing, Fraser Residence Tianjin, Fraser Place Chengdu and Modena by Fraser Nanjing in cities where Frasers Hospitality has existing presence.
Recognised as the Best Serviced Residence Brand in China and Best Luxury Serviced Apartment Operator in China, Frasers Hospitality currently operates 12 properties across 12 key gateway cities. The new signings will add seven properties to the group’s portfolio in these main cities and bring its total inventory in the country to over 4,500 keys.
“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,” said Mr Mark Chan, Chief Operating Officer of Frasers Hospitality.
Mr Chan added, “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.
The group’s current portfolio in China also includes properties across Beijing, Changsha, Chengdu, Dalian, Guangzhou, Shanghai, Shenzhen, Tianjin, Wuhan, and Wuxi. The new openings bring the hospitality provider’s global portfolio to more than 120 properties in over 70 cities worldwide.
