Frasers Hospitality Works to Deepen Its Hold in the Booming Chinese Market
After the grand opening of Fraser Place Binhai Tianjin, the company now has two properties in the coastal Chinese metropolis. This is just the latest hotel that signals a continued expansion in China for Frasers Hospitality, which is a member of Frasers Property Group.The company’s first property in Tianjin, which is Fraser Place Tianjin, has been enjoying notable success since it first opened its doors to guests back in 2016. Frasers Hospitality, it should be noted, ranks as China’s leading serviced apartment brand, boasting 16 properties in 11 cities throughout the country, cities that include Beijing, Changsha, Chengdu, Dalian, Guangzhou, Nanjing, Shanghai, Shenzhen, Tianjin, Wuhan, and Wuxi.
The Future for Frasers Hospitality In China
It should also be noted that Frasers Hospitality currently has 16 properties in its pipeline in China, and once completed these projects will help the company to enlarge its footprint in a number of cities, including Chengdu, Nanjing, Shanghai, and Wuhan.
In addition to expanding its footprint in the aforementioned cities, the projects in Frasers Hospitality’s pipeline will help it enter a pair of new markets too, including the cities of Nanchang and Haikou.
What Frasers Leaders Are Saying
Frasers Hospitality leaders are of course bullish on the tourism market in China as well as their prospects for expanding their own footprint within it.
The company’s CEO, Mr. Choe Peng Sum, had this to say recently:
“China continues to command international attention and its importance is not to be underestimated. In 2017, China’s foreign direct investment grew by 8 percent year-on-year to reach around $135 billion, an all-time high. In the same year, there were also 35,652 newly established foreign companies, a 28 percent jump compared to the year before.”
Choe also added, “China’s huge population and rising consumption power coupled with its self-contained and self-sustaining economy make it an attractive market. The rise of Chinese millennials is also driving growth.”
China’s Growing Market
Frasers Hospitality has noted a 10 percent growth in the number of room nights booked by Chinese travelers in recent years across its global portfolio of properties, and as a direct result of this, the company has moved to strengthen its presence in China and also to leverage the opportunities of China’s burgeoning domestic tourism market. Chinese travelers, it should be noted, also account for almost half of the guests in the country, which clearly means that China is home to a booming domestic travel market, one that is ripe for more expansion within the country.
Let’s take a look at a few other projects currently underway by Frasers Hospitality Group:
Malmaison Hotel York
Malmaison is planning to transform the former Aviva building on Rougier Street, in the city centre, into a hotel.
Capri by Fraser Leipzig
Two new hotels are planned on a site in the historic centre of Leipzig. They will be called Capri by Fraser Leipzig and Premier Inn Leipzig.
Capri by Fraser, Johor Bahru
Urban inspired, high-tech and intuitive, Capri by Fraser empowers residents with a menu of intelligent services to choose the way they want to rest, relax and recharge
More information on hotel projects by Frasers Hospitality Group can be found in the TOPHOTELPROJECTS database. TOPHOTELPROJECTS is the specialized service provider of cutting-edge information of the hospitality industry.
