Frasers Hospitality Opens First Hotel Residence
Friday January 25th, 2013 - 10:55AM H
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SINGAPORE—Frasers Hospitality Pte Ltd. marked the grand opening of its first hotel residence, Capri by Fraser, Changi City/Singapore, and unveiled plans to take the Capri by Fraser brand into the global marketplace.
The expansion includes the opening of two more Capri by Fraser properties this year: the 126-apartment Capri by Fraser, Ho Chi Minh City in March and the 240-apartment Capri by Fraser, Kuala Lumpur in November. The Group also is finalizing plans for more Capri by Fraser properties in Asia Pacific and Europe.
￼￼￼￼￼￼Created by Frasers to meet the evolving needs of e-generation business travelers, the urban-inspired Capri by Fraser brand concept is attracting strong market interest with its Singapore property enjoying a steady average occupancy of more than 80%, according to the company,
In close proximity to the Singapore EXPO Convention and Exhibition Centre, Capri by Fraser, Changi City/Singapore has been attracting strong corporate and meetings clientele from surrounding companies, including the financial, logistics, information technology, telecommunication and airline industries, according to the company. The hotel also was named the official hotel of the inaugural Korean Ladies Professional Golf Association tournament.
Choe Peng Sum, CEO/Frasers Hospitality Pte Ltd, said, “The positive international response that Capri by Fraser has generated within a relatively short span of time is a strong indication that there is a demand for a hotel residence brand that is well positioned to meet the 24x7 work-life balance needs of the rapidly growing e-generation market sector. We are very excited with this response and it is very much our plan to explore the growth potential of this brand internationally throughout Asia and beyond."
Tags: • Hospitality • Ownership •
When you hear all the lodging industry projections for the months and years to come, much of the robust growth is forecast to be the result of the expected influx of travelers from China. In what could only be seen as good news for the industry, that expectation moved a little closer to reality when President Obama signed a visa waiver extension for Chinese travelers earlier this month.