Frasers Hospitality Pte Ltd (Frasers) is on track to manage a total of 23 properties in China by 2016 with the opening of Fraser Suites Chengdu on March 13th 2012, by Guest of Honour, Mr Lee Yi Shyan, Minister of State, Ministry of Trade and Industry and Ministry of National Development of Singapore.
Reaffirming Frasers’ commitment to expanding its presence in China, the opening of the luxurious 360-unit Fraser Suites Chengdu will be followed by another five properties in Guangzhou, Wuxi, Wuhan, Beijing and Shanghai by the end of this year. The group also has other properties in Beijing, Hong Kong, Nanjing, Shanghai, Shenzhen, Suzhou and Tianjin.
Ranked No 1 of the world’s fastest growing cities in the next decade, Chengdu is also designated as China’s western centre for logistics, commerce, finance, science and technology, transportation and communications. With the presence of more than 200 of Fortune 500 companies in Chengdu, the city continues to attract strong foreign direct investment as an economic region and has already reported GDP increase of 15.2% in the first quarter of 2011 to RMB 136.84 million1. This increased presence of expatriates and business travelers to the area has also led to a growing demand for international serviced residences within the region, which Frasers is well positioned to meet.
“The opening of Fraser Suites Chengdu in collaboration with the Yanlord Land Group Limited, one of China’s leading residential property developers, builds on a very important and strategic relationship following our first partnership in Nanjing with the development of the elegant Fraser Suites Nanjing. It is also a clear reflection of the confidence we have in China’s dynamic growth, which we are very excited to be a part of,” said Mr Choe Peng Sum, Frasers’ Chief Executive Officer, “Our strategy will be to continue to strengthen our presence across China to meet the demand for premier international serviced residences both in primary as well as burgeoning secondary high-growth cities like Chengdu, where foreign direct investment and tourism are expected to increase exponentially in the next few years.”
Establishing a strong standing in the country’s premium serviced residences market for brand and operational excellence, Frasers has continued to win prestigious industry recognition for its strong reputation in its seven years of operation in China. The most recent accolades of which are Best Service Residence in China (for Fraser Suites Nanjing in the Business Traveller Awards), Best Serviced Apartment in China (for Fraser Suites Shanghai), Best Serviced Residence Brand in China and Outstanding CEO for Mr Choe Peng Sum, which was awarded by China Hotel Starlight Awards, the “Oscars” of China’s hospitality industry for significant achievements within the industry.
**This is a press release