Frasers Hospitality, the hospitality arm of mainboard-listed Frasers Centrepoint, has made its foray finto two new markets in Europe, in a bid to drive growth.
The global hospitality operator launched on Thursday its first property in Frankfurt - the 153-unit Capri by Fraser, Frankfurt, which joins six other properties under the company's Capri brand of hotel residences.
It had earlier opened a 97-unit Capri by Fraser, Barcelona in Spain.
The Capri brand, targeted at e-generation travellers, offers a hybrid of hotel facilities together with the comfort and convenience of a full serviced residence.
The group says in a statement that it will open a similar property in Berlin as well, which is expected to be completed by the first quarter of next year.
The Europe launch will take place before the addition of another 10 Capri by Fraser properties in Asia-Pacific over the next four years, says the group. This will increase the group's total number of Capri by Fraser hotel residences to 17, with more than 3,500 units, including those in the pipeline.
Frasers Hospitality's global portfolio, including those in the pipeline, stands at 129 properties in 77 cities. It holds more than 21,000 keys worldwide.
Shares in Frasers Centrepoint closed at $1.495 on Wednesday.
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The global hospitality operator launched on Thursday its first property in Frankfurt - the 153-unit Capri by Fraser, Frankfurt, which joins six other properties under the company's Capri brand of hotel residences.
It had earlier opened a 97-unit Capri by Fraser, Barcelona in Spain.
The Capri brand, targeted at e-generation travellers, offers a hybrid of hotel facilities together with the comfort and convenience of a full serviced residence.
The group says in a statement that it will open a similar property in Berlin as well, which is expected to be completed by the first quarter of next year.
The Europe launch will take place before the addition of another 10 Capri by Fraser properties in Asia-Pacific over the next four years, says the group. This will increase the group's total number of Capri by Fraser hotel residences to 17, with more than 3,500 units, including those in the pipeline.
Frasers Hospitality's global portfolio, including those in the pipeline, stands at 129 properties in 77 cities. It holds more than 21,000 keys worldwide.
Shares in Frasers Centrepoint closed at $1.495 on Wednesday.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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