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September 2, 2014

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Home » Business » Real Estate Special

Respecting cultural differences is a key to success

By Wang Yanlin | September 2, 2014, Tuesday | Print Edition

JAMES Costa likes people, so it was quite natural for him to join the hospitality industry almost 30 years ago. Since 2012, he has worked for Fraser Suites, the operator of serviced apartments in Shanghai.

“After working on the hotel side of the industry for most of my career, this is the first time I have managed serviced apartments,” said Costa, a 58-year-old American.

Sitting in the spacious lobby of one property of Fraser Suites Top Glory Shanghai, he said his new job requires a different set of skills.

“The major difference between running serviced apartments and running a hotel is the fact that in hotels you have guests for just a few days, while in serviced apartments, the guests sometimes become long-term residents,” Costa said.

The serviced apartment concept aims at people who want to take “home” with them as they travel or work overseas.

Residents may be people relocating to a new city, attending a training program, seeking accommodation between houses or simply needing the comfort of an apartment for a few nights.

Compared with hotels, a serviced apartment can be more cost effective. The units come fully equipped with furnishings, kitchenware and laundry facilities.

According to Savills data, Shanghai now has about 14,000 units of serviced apartments. Some are operated by local property owners, some by international companies. They also include strata-titled apartments.

Occupancy rates in serviced apartments are more stable, and the units can easily return a profit of 20 percent or more profit due to smaller operating costs.

Fraser Suites Top Glory Shanghai is a 158-unit property owned by the state-owned China National Cereals, Oils & Foodstuffs Corp (COFCO) and is managed by Frasers Hospitality. Its occupancy rate is steady at around 90 percent, while hotels across Shanghai are experiencing more rollercoaster performance.

“It is partly because our premium location, our good furnishings and our attentive service,” Costa said. “I guess the sense of community created among our clients helps the most to keep us competitive.”

Located in Pudong on the east side of the Huangpu River, Fraser Suites Top Glory Shanghai is adjacent to Lujiazui, which is often called Shanghai’s “Wall Street.” The area is headquarters to multinational banks and companies, chic international shopping malls and an array of top restaurants.

Unveiled in 2008, Fraser Suites Top Glory Shanghai is the first property in Shanghai of Singapore-based Fraser Suites. It offers four types of units, ranging from two to three bedrooms.

To create a sense of community, Costa said he finds himself spending a lot of time building relationships with residents.

The complex offers daily housekeeping, 24-hour reception and concierge service, wireless broadband and general business services. It also offers breakfast and recreational facilities, including a gymnasium, indoor and outdoor swimming pools and a children’s playground.

As China’s Mid-Autumn Festival approaches, staff at the apartment has been busy with preparing a cozy party to celebrate the time of gathering with the family, as it always does for other occasions such as Christmas and the Chinese lunar Spring Festival.

“The shared sense of belonging helps to reduce the stress that many families experience when they are away from their home countries,” Costa said.

Management duties include directing residents to the nearest restaurants, supermarkets, banks, hospitals and schools.

“People are people,” Costa said. “They want to be treated with respect and friendliness. They want to feel cared about.”

Having worked in places like Indonesia and Montenegro and in New Mexico, Colorado, Utah, Tennessee and Washington in the US, Costa said he has developed a keen sense about the important of culture.

“Working in so many places has taught me to respect the differences in cultures and to try to determine those factors that make each country different,” he said. “It makes a foreign experience more memorable if people there understand and respect cultural differences.”

Costa said one of his most memorable experiences was in Surabaya, Indonesia, where he served as general manager of the Hotel Majapahit. There, he hosted the president of Switzerland and numerous foreign ambassadors and Indonesian ministers.

During his tenure, the hotel was nominated to represent Indonesia in 2010 for the UNESCO World Heritage Award. Also under his leadership, the hotel’s overall occupancy was improved, and the hotel was awarded the best business hotel in Indonesia by the World Travel Organization for two consecutive years.

He said he used to love sitting in the courtyard of the hotel, imagining the days when Indonesia won its independence in this legendary hotel.

He said he came to China to explore all the myths he had heard about the country.

Intrigued by Chinese culture, Costa said he might settle down here for the next five to seven years — a long stay for him. He said his goal to make Fraser Suites the top drawer in the Shanghai industry.

Real Estate Special


 

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