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Modena grows as it maintains high quality
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Appealing specifically to a growing market niche, serviced apartment brand Modena, operated by leading Frasers Hospitality, has been keeping in-tune with the hardworking, hard-playing business travelers in Shanghai, a growing business hub that aspires to be a top world financial and shipping center.
Modena opened its first Shanghai serviced residence in 2010 in Putuo District, which is gradually emerging as a major sub-downtown center, with the development of business and more traffic.
With the rise of Asia as a global powerhouse amid the economic recovery, Modena is growing its brand in the region, with China leading the market, said the company. Another Modena residence is expected at Shanghai’s Pudong New Area in 2014 or 2015, following two new Modena residences opening in China’s Wuhan, Hubei Province and Wuxi, Jiangsu Province next year.
“Serviced apartments have developed successfully into a viable alternative to normal hotels and residential units for short to medium stays, whether for business or leisure,” said Beatrice Wong, general manager with Modena Putuo Shanghai.
Since 2010, Modena has opened three Modena properties — in Shanghai, Tianjin and Suzhou in China, said Wong, who added that as they grow, they are maintaining high service standards.
The general manager said she and the staff search social media looking for feedback and comments on Modena as a first order of daily business at the residence, which has 348 suites. The monthly rent is about 15,000 to 28,000 yuan (US$2,451 to US$4,574) targeting mid-level customers.
“It’s so good to see customers praise the service and regard us as family,” said Wong.
About 65 percent of the residents are foreigners. The occupancy rate reaches 70 percent, which is a high number considering the location of the project, the number of available units and the complete turnover of the units only in September 2012, said the general manager.
The company said that in the past few years, travel patterns have changed as intercity travel is more frequent than before.
Serviced apartments are playing a bigger part in business travel, particularly for long-stay travelers.
To meet increasing demands, each of Modena’s apartment units is equipped with both lan and wireless Internet access, said the company. It also provides a 24-hour gym. Internet Corner is opened 24/7 for all guests. In addition, the residence has created clique corners for guests to make friends, socialize or arrange for business meetings.
Wong said she is delighted to see the changes and improvements both around the city and at Modena Putuo.
Now with Metro lines and a railway station moving into the area, together with the establishment of more businesses, the occupancy rate and net profits to the owners have risen year to year.
The fact that long-stay (project base) and short stay (business and leisure) each represent about half their business helps them to weather market fluctuations, said Wong.
Wong said that “a happier staff naturally translates into better service to the guests. We are able to maintain a stable team with a staff turnover rate of less than 5 percent.”
Through her communication with the staff, Wong, who spent a long time in Hong Kong, has learned more about Shanghai, its local cultures and business practices.
Wong said they will see some challenges as other famous hotel brands such as Oakwood and Kempinski locate in the nearby area.
“All these will create competition and, in turn, bring better service and innovation to the sector,” said Wong.
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