Frasers Hospitality, a Singaporean owner and operator of international serviced apartments and hotels, intends to vigorously expand its portfolio in China to tap the immense growth prospects arising from development of new infrastructure and master planned cities.
The company plans to open 10 more properties in China's key cities within the next couple of years, apart from its current network of 14 properties in the domestic market. The new properties, including Fraser serviced residences, Modena by Fraser serviced residences and Capri by Fraser hotel residences, will be located in Tianjin, Wuxi, Chengdu, Shanghai, Shenzhen, Nanchang, Dalian and Changsha.
"With the exponential growth that we have witnessed over the last 11 years, there is no question that China is, and will continue to be an integral growth market for Frasers Hospitality," said Choe Peng Sum, chief executive officer of Frasers Hospitality.
"Our growth strategy is very much parallel to that of China's plans to develop new infrastructure and master planned cities as they present tremendous growth opportunities."
