[Press Release] One year on, Frasers Budapest property starts with a record first birthday

Budapest: 8th May 2012: Frasers Hospitality, the Singaporean serviced apartment operator, has announced a solid start to business at its Budapest property.
Fraser Residence Budapest has recorded an average 70% occupancy level throughout its first year of operation which the company claims to be well in front of the general hotel scene in the Hungarian capital.

Said Alain Goetschel General Manager Fraser Residence Budapest, “In extremely tough economic conditions we have exceeded all expectations here in Budapest. We are currently at an 80% occupancy level for the last months (70% year round) when the city is struggling to make 60%. The economic crisis in Hungary is biting very hard and the hotel sector is suffering in terms of occupancy levels and rates. For us to succeed in these tough conditions, we have to offer our clients a high quality service and spacious accommodation which is matched by a competitive rate. The good news is we have hit all our targets for occupancy levels and revenue during this first year of operation”.

The success of Fraser Residence Budapest is the mix of clientele. As well as providing for the short, long and mid stay client on business assignments, the popularity of Budapest as a short break destination has given the opportunity to target the leisure market as well.

In addition to the property’s regular business and leisure travellers, the Fraser Residence team has been successfully targeting two niche markets. Budapest has a thriving film industry and major movies have chosen the city for locations. The property is close to the city’s film studios and has accommodated many crews. Some major productions featuring Brad Pitt and Bruce Willis have based their crews at Fraser Residence Budapest.

Another niche market is the growing dental tourism business. Budapest is regarded as a centre of excellence for dental care drawing clients from all over Europe. Cost and treatment quality has given Fraser Residence another business opportunity.

Fraser Residence Budapest is situated on the Pest side of the city off the lively Corvin Promenade which is one of Central Europe’s largest urban renewal programmes. As such, the area is just full of restaurants, shops and cafés as well small, medium and large businesses which are a major source of clients for the property. Public transportation facilities are within walking distance of the property and the capital’s major attractions just 10/15 minutes away

The property’s 50 apartments range from deluxe studios to one and two bedroom. There’s also three bedroom penthouse apartments with private terraces and stunning views over the city. All apartments have fully equipped kitchens and state of the art entertainment systems including free high speed internet. Transfers are available to the airport, which is 20 minutes from the hotel.

More information and reservations for Fraser Residence Budapest can be found on the Frasers Hospitality website http://budapest.frasershospitality.com/

Contact:

Balázs Nánai
Director of Sales & Marketing
Fraser Residence, Budapest
Nagytemplom u. 31. – 1082 Budapest, Hungary
Tel: +361 872 5900 – DID: +361 872 5904 – Mob. +3630 210 9323 – Fax: +361 872 5906
Email: sales.budapest@frasershospitality.com
Website: http://budapest.frasershospitality.com

THE FRASER COLLECTION
BAHRAIN • BANGKOK • BEIJING • BUDAPEST • CHENGDU • DOHA • DUBAI • EDINBURGH • GLASGOW • HANOI • HONG KONG • ISTANBUL • JAKARTA • KUALA LUMPUR • LONDON • MANILA • NANJING • NEW DELHI • OSAKA • PARIS • SEOUL • SHANGHAI • SHENZHEN • SINGAPORE • SUZHOU • SYDNEY • TIANJIN • BANGALORE (2012) • CHENNAI (2012) • GUANGZHOU (2012) • PERTH (2012) • WUXI (2012)

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