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Frasers Hospitality launches second Tianjin property
FRASERS Hospitality, the hospitality arm of Frasers Centrepoint Limited (FCL), has beefed up its presence in China with the opening of its second serviced residence in Tianjin.
The 192-unit Fraser Place Tianjin is located in the city's prime entertainment district, adjacent to the Olympic Stadium Centre and close to the historical Nankai district.
Its opening follows the launch of 104-unit Modena by Fraser Heping Tianjin in 2010 and marks Frasers Hospitality's 15th property in China, where it hopes to enlarge its footprint by doubling to 30 properties with over 7,000 serviced apartment units by 2019.
Frasers Hospitality chief executive Choe Peng Sum said that the opening of its 15th property is a reflection of confidence in China's continued growth.
"Despite a slowdown in economic growth, there is no denying that China will continue to remain the Asian economic powerhouse, which is expected to double in size by 2020 from 2010 levels," he said. "We plan to continue strengthening our presence in China with our range of serviced residence offerings that cater to the different segments of the business and leisure travel market."
Frasers Hospitality's global portfolio, including those in the pipeline, currently stands at 132 properties in more than 70 cities and more than 21,000 keys worldwide.