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Frasers Hospitality, a unit of Frasers Centrepoint Limited, opened its second Capri-branded property in Germany.
Capri by Frasers Berlin is strategically located within Berlin’s historic centre at Scharrenstraße, offering easy access to cultural attractions, international organisations and popular tourist destinations.
Targeted at millennial travellers, the 143-unit hotel residence also marks the company’s seventh operating Capri-branded property globally.
“We are thrilled by the positive response to the Capri by Fraser brand across the globe. It was created to cater to the evolving lifestyle needs of millennial travellers. Millennials are choosing Capri by Fraser as the brand offers them holistic lifestyle and wellness options, reassuring safety and a prime location,” said Frasers Hospitality CEO Choe Peng Sum.
“As one of the largest generations in history, millennials are currently spending an average of $200 billion on travel each year, and their travel spending is set to increase as they enter their prime working and spending years. We look forward to strengthening the Capri by Fraser network in the coming years to tap into the growing demand for quality accommodation options that are tailored to this target market.”
With 12 new properties in the pipeline, Choe also revealed plans to expand into new cities including Leipzig, Wuhan, Shenzhen, Johor Bahru, Jakarta, Kalkara, Balikpapan and Gurgaon in the next four years.
“We will also anchor our presence in key gateway cities such as Singapore and Kuala Lumpur with the addition of new Capri by Fraser hotel residences in these cities. This will extend the Capri by Fraser portfolio to 19 properties with over 4,000 keys by 2021,” he added.
Including those in the pipeline, the global portfolio of Frasers Hospitality stands at 148 properties across more than 80 cities.
This article was edited by Denise Djong.
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