Hospitalaunar da baƙi na Frasers ya zurfafa sawu a China tare da otal na biyu a Tianjin

The grand opening of Fraser Place Binhai Tianjin today signals the continued expansion of Frasers Hospitality, a member of Frasers Property Group, in China.

This marks Frasers Hospitality’s second property in Tianjin after Fraser Place Tianjin, which has enjoyed success since its opening in 2016.

As China’s leading serviced apartment brand , Frasers Hospitality currently has 16 properties in 11 cities: Beijing, Changsha, Chengdu, Dalian, Guangzhou, Nanjing, Shanghai, Shenzhen, Tianjin, Wuhan and Wuxi. It has another 16 properties in the pipeline , which will see it enlarging its footprint in cities such as Chengdu, Nanjing, Shanghai and Wuhan, as well as opening in new cities such as Nanchang and Haikou.

“China continues to command international attention and its importance is not to be underestimated. In 2017, China’s foreign direct investment grew by 8 percent year-on-year to reach around US$135 billion, an all-time high . In the same year, there were also 35,652 newly established foreign companies, a 28 percent jump compared to the year before,” said Mr Choe Peng Sum, Chief Executive Officer, Frasers Hospitality.

“China’s huge population and rising consumption power coupled with its self-contained and self-sustaining economy make it an attractive market. The rise of Chinese millennials is also driving growth”, added Mr Choe.

Having noted a 10 percent growth in the number of room nights booked by Chinese travelers from FY2016 to FY2017 across its global portfolio of properties, Frasers Hospitality is strengthening its presence in China and leveraging the opportunities of China’s burgeoning domestic tourism market. Chinese travelers also account for almost half of the guests in the country, signifying China’s booming domestic travel market that is ripe for more expansion within the country.

As one of the main tourism-generating regions in China, Tianjin is among the country’s key cities, ranking third in domestic tourism revenue and eighth in inbound tourism revenue respectively. Tianjin’s economy grew by 3.6 percent in 2017 , after several years of expanding at 12.4 per cent annually.

We are excited to deepen our commitment to Tianjin. Our first property in the city has proven to be popular, having recorded an average occupancy that is upwards of 90 percent. We look forward to building on this success with the launch of Fraser Place Binhai Tianjin. With this opening, our two properties in Tianjin will complement each other perfectly as they cater to both short-stay and long-stay business travelers as well as to luxury travelers,” said Mr Choe .

“China is key to our future growth as it currently represents a quarter of our portfolio. The opening of Fraser Place Binhai Tianjin is significant as it underlines our ambitions to grow our presence in China. In addition to entering new Chinese cities, we are also building on our presence in cities that we already operate in so that we may better provide travelers with more options that cater to their needs. Meeting varying and ever-evolving travelers’ needs is central to our expansion strategy and we look forward to delivering the best guest experience for all our guests in China in the coming years,” Mr Choe added.