Published on : Monday, June 11, 2018
This will be Frasers Hospitality’s second property after Fraser Place Tianjin’s successful launch in 2016.
At present Frasers Hospitality has 16 properties across 11 cities – Beijing, Changsha, Chengdu, Dalian, Guangzhou, Nanjing, Shanghai, Shenzhen, Tianjin, Wuhan and Wuxi.There are more than 16 properties in the pipeline which will see the property’s expansion in new cities.
Choe Peng Sum, chief executive, Frasers Hospitality stated that China will continue to command international attention and its importance cannot be underestimated . Last year China’s foreign direct investment grew by eight per cent year-on-year and reached around US$135 billion, an all-time high.
There were also 35,652 newly established foreign companies showing a 28 per cent increase from the year before.
Choe mentioned China is an attractive market and there was ten percent growth in the number of room nights booked by Chinese travellers from the financial year 2016-2017 across its global portfolio.
Frasers Hospitality believes in strengthening its presence in China and finding opportunities in China’s burgeoning domestic tourism market.
China’s booming domestic travel market is ripe for expansion and Chinese travellers account for around half of the guests in the country.