24 Mar '11, 3pm

Frasers Hospitality undertaking ambitious expansion plans

Frasers Hospitality undertaking ambitious expansion plans

SINGAPORE : Serviced apartment chain Frasers Hospitality has said it is undertaking its most ambitious expansion project yet. It announced plans to add 4,300 serviced apartment units to its current inventory in the next two years, bringing the total number of units to more than 9,000. The company is kicking off its aggressive expansion plan with the launch of Fraser Residence Orchard. Fraser Residence Orchard is the company's fourth serviced apartment in Singapore. It took over the property from The Ascott in November last year and refurbished it for S$6.5 million. With occupancy rates for most of Frasers' apartments at 80 per cent, it plans to add 25 new properties over the next two years in gateway cities like New Delhi, Istanbul, Suzhou and Chengdu. And by 2012, the company aims to manage a total of 64 properties across 37 cities. Properties under its management have gr...

Full article: http://www.channelnewsasia.com/stories/singaporebusinessn...

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