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Singapore’s Frasers Hospitality recently revealed that it held the grand opening of a 259-unit serviced residence at Dalian city in China’s northeastern Liaoning province.
Bought in 2015 for RMB481.37 million (S$100.29 million), Fraser Suites Dalian has already seen healthy demand from guests, including some who have leased units for one to two years, despite just starting its operations more than a month ago. It was also the official hotel for the recently held 31st Dalian International Marathon.
Located within the new Donggang business district, the property offers panoramic views of the harbour and has access to the city’s new subway line. It is also a short stroll from Dalian International Conference Centre, which hosted the World Economic Forum’s Summer Davos meeting.
Fraser Suites Dalian comes with fully-furnished serviced apartments ranging from studios to three-bedroom units. Its amenities include meeting rooms, a 24-hour gym, billiards room, children’s play area and an indoor heated pool.
The property forms part of the mixed-use Europark Tower development, which consists of a 100,000 sq m shopping centre, designer offices and luxury residential apartments.
This follows the openings of four new serviced residences in Changsha, Tianjin and Shenzhen last year. Thanks to robust take-up, Frasers Hospitality is planning to increase its unit stock by about 85 percent and expand into 30 properties across China.
“We see demand being driven not only by the inbound market but also by domestic travellers in the country. From FY2016 to FY2017, we observed a growth in the number of room nights booked by Chinese travellers, who account for almost half of all our guests in China. Given the fact that 75 percent of China’s business travel expenditure is domestic, we will continue to grow our footprint in first- and second-tier cities,” said Frasers Hospitality’s CEO Choe Peng Sum.
“While our entry into emerging cities such as Dalian and Tianjin are aimed at strengthening our network of properties across China, we are also building on our presence in cities where we already have properties to meet the diverse needs of travellers.”
For instance, Capri by Fraser Shenzhen caters to shorter stays, while Fraser Suites Shenzhen features larger living spaces.
Meanwhile, a recent study commissioned by Frasers Hospitality revealed that innovation in products and experiences is essential for 93 percent of Chinese millennial travellers, with over half looking for smart hotel services.
“The needs of tech-savvy Chinese millennial travellers are also contributing to the growth of our brands such as Capri by Fraser, which has been designed for the e-generation,” Choe added.
Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
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