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Frasers Hospitality is poised to achieve its global target of operating 30,000 hotel rooms and serviced residences thanks to the anticipated opening of 48 properties across Asia, Europe, the Middle East and Africa in 2019.
“Reaching the 30,000 unit growth mark in the next three years not only increases our portfolio by 30 percent, but further anchors the group’s presence in dominant cities worldwide,” said its CEO Choe Peng Sum.
According to the group’s filing to the Singapore Exchange, the expansion includes its maiden properties in 21 cities including Dalian, Nanchang, Tokyo, Johor Bahru, Penang, Putrajaya, Yangon, Riyadh, Jeddah, Lagos, Berlin, Hamburg, Stratford-upon-Avon and Valletta.
In Asia, the group is set to launch many new properties in Singapore, Malaysia, Indonesia and Thailand, accounting for half of the 48 properties in the pipeline. Also coming up is the 85-uni Fraser Place Gurgaon in India, the group’s first serviced residence in the area that will open next year.
Over at China, which remains one of its integral and fastest-growing markets, Frasers Hospitality intends to open several properties, such as the 345-unit Modena by Fraser Changsha in 2016, as well as the 174-unit Fraser Place Nanchang and 259-unit Fraser Suites Dalian Europark by 2017.
In Europe, the group recently acquired and rebranded four boutique hotels in the United Kingdom, namely Avon Gorge Hotel in Bristol, Magdalen Chapter at Exeter, Hotel Seattle in Brighton and Montpellier Chapter Cheltenham. These hotels, along with two new properties will add to a total of 35 Malmaison and Hotel du Vin properties in the country.
Elsewhere in the continent, Frasers Hospitality is set to open its first properties in Berlin and Hamburg, following the group’s recent launch of Capri by Fraser Barcelona, Capri by Fraser Frankfurt and Fraser Suites Geneva.
In the Middle East, the group will add seven properties with over 1,600 units to its existing four properties. These new additions are located in Dubai and Doha, while it will set-up its first presence in Riyadh, Khobar, Dammam and Jeddah.
Over at Africa, it will establish its maiden property in the continent later this year in the form of Fraser Suites Abuja in Nigeria, followed by openings in Lagos and Congo.
At present, Frasers Hospitality’s global portfolio, including those under construction, consists of 139 properties with a total of 22,800 units across more than 80 cities. This is a far cry from just two serviced residences offering 400 units when it was founded in Singapore in 1998.
Image: Artist impression of Capri by Fraser in Berlin, Germany slated to open in 2017.
Nikki De Guzman, Editor at CommercialGuru, wrote this story. To contact her about this or other stories email nikki@propertyguru.com.sg