Frasers to Add 25 Properties Over Next Two Years

Frasers Hospitality is to add 25 new properties and will manage a total of 64 properties across 37 cities by the end of 2012. This aggressive global expansion kicked off last week with the official opening of Fraser Residence Orchard.

“We are embarking on our most ambitious expansion phase,” said Mr Choe Peng Sum, Chief Executive Officer of Frasers. “Over the next 24 months we will add 4,300 serviced residences to our inventory.”

2011 will see Frasers open a dozen new properties worldwide including Jakarta, Indonesia; Suzhou and Chengdu in China; New Delhi, India; Doha, Qatar; Istanbul, Turkey and Budapest in Hungary. The momentum will pick up in 2012 when Frasers opens a further 13 properties.

 Frasers offers all guests super-broadband internet wherever available, Voice over Internet Protocol or VoIP communications, and even gourmet coffee machines in every serviced residence. Guests can also ask for customised services such as personal trainers, personal shoppers or chefs.

Even though Fraser Residence Orchard, its fourth property in Singapore, started operations only two months ago, it is enjoying 80% occupancy.

“Occupancy across all our properties worldwide is over 80%, signaling a strong upswing for the extended stay market,” said Mr Choe. “Asia, particularly China and India, has been the global economic engine over the past two years and will continue to drive growth as the world climbs out of the recession.”

The International Monetary Fund, in its latest World Economic Outlook update of January 2011, has projected that while “advanced” economies would grow by 2.5% in 2011 and 2012, India is forecast to grow by a robust 8.4% in 2011 and 8% in 2012; and China by an even more impressive 9.6% in 2011 and 9.5% in 2012.

Fraser Residence Orchard

At Mt Elizabeth Link, Fraser Residence Orchard sits at a prime locale, at the Orchard Road shopping belt and the prestigious Cairnhill residential area; adjacent to Paragon Shopping Centre and Mount Elizabeth Hospital.

With 72 exclusive serviced residences ranging from one-bedroom to five-bedroom penthouses, Fraser Residence Orchard is designed as a sanctuary from the business bustle. It offers a quieter environment that is ideal for extended corporate stays. It was upgraded and refurbished at a cost of Sin$6.5 million to attain Frasers’ standards of comfort.

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