FRASERS Hospitality is aiming to add 20 properties to its portfolio over the next four years as it continues to ride on the post-pandemic recovery trajectory.
On Thursday (Jul 4), the strategic business unit of Frasers Property said this includes nine properties scheduled to open in the next two years across China and Vietnam.
Under its partnership with UK-based hotel chain Yotel, the company is also launching the brand’s first Yotel property in Japan in early 2025. The site was acquired and developed by Frasers Hospitality, and is located within walking distance of the Tokyo Station.
Frasers Hospitality chief executive Eu Chin Fen said: “Our recent partnership with Yotel in Japan and joint ventures formed in China and Japan exemplify our ability to forge strong alliances with industry leaders.”
She added: “Concurrently, we continue to deepen our presence in existing cities with more properties slated to open in the next few years, including Fraser Residence Taipei that we announced last month.”
Over the first half of 2024, the company has opened three new properties in Bahrain, Chengdu and Shanghai.
A NEWSLETTER FOR YOU
Tuesday, 12 pm
Property Insights
Get an exclusive analysis of real estate and property news in Singapore and beyond.
This comes after Frasers Hospitality in May 2023 made its maiden acquisition of premium apartment rental assets in China and Japan, which have a combined asset value of about S$170 million.
Looking ahead, the group said it intends to collaborate with capital partners and third-party hotel operators that complement its operations within the extended-stay segment.