Bookmark & Share
Frasers Hospitality, a member of Frasers Property Group, is investing $250 million to develop a new serviced residence in Tokyo’s Ginza district.
To be launched under the group’s millennial-focused hotel residence brand Capri by Fraser, the property will have close to 200 rooms and is set to open by 2020.
Capri by Fraser, Ginza/Japan will feature meeting and conference facilities that are equipped with the latest audio-visual capabilities, 24-hour gymnasium, communal areas, as well as all-day dining restaurant and bar.
When opened, Capri by Fraser, Ginza/Japan will complement Fraser Suites Akasaka, which is also expected to open in 2020.
“Tokyo is one of the world’s leading cities and we expect a rise in visitors in the coming years as it hosts prestigious global events such as the 2020 Summer Olympics,” said Frasers Hospitality CEO Choe Peng Sum.
With Japan witnessing strong economic growth, the country welcomed 26.2 million tourists between January and November 2017, surpassing the total number of visitors recorded in 2016. Frasers Hospitality noted that the country’s prospects of attracting more tourists are promising, with the government targeting to attract 40 million tourists by 2020.
“Hotels in Tokyo are doing extremely well, with occupancy rates exceeding 85 percent during the first half of 2017. Even as we prepare for the launch of Fraser Suites Akasaka in early 2020, we are particularly excited to have secured such an exclusive location in Ginza and we look forward to debuting our Capri by Fraser brand in Japan,” added Choe.
Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
Related Articles:
Singapore hotels’ daily rates to increase in 2018