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Hotelier to lift portfolio in China
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FRASERS Hospitality, a Singapore serviced apartment and hotel company, aims to nearly double its portfolio in China on the back of robust economic growth and strong leisure travel demand fueled by rising incomes.
鈥淏y 2021, we hope to operate some 30 properties around the country where our portfolio now stands at 16,鈥 Choe Peng Sum, chief executive officer, said yesterday.
鈥淚n addition to the existing three brands, we are also looking to introduce Malmaison, a collection of boutique style hotels, into the China market within the coming four years.鈥
The expansion will consolidate the company鈥檚 presence in Shenzhen, Shanghai, Tianjin, Nanjing, Chengdu and Wuhan while extending its footprint to new cities such as Dalian, Nanchang and Hefei.
The gold-standard Fraser serviced residences and the Modena lifestyle brand remain the major drivers for the company in China, along with its high-tech Capri brand, according to Choe.
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