Frasers Hospitality adds property in Geneva

FRASERS Hospitality, the hospitality arm of mainboard-listed Frasers Centrepoint Ltd, has added to its European portfolio with the launch of its first gold standard serviced residence in Switzerland.

The opening of the 67-unit Fraser Suites Geneva, located in the city centre, brings Frasers Hospitality's portfolio in Europe to 55 properties.

Including pipeline properties, it now has more than 4,300 units across the United Kingdom, Germany, France, Hungary, Turkey, Spain and Switzerland.

Choe Peng Sum, CEO of Frasers Hospitality, said: "Geneva is one of Europe's key destination cities and host to the highest number of international organisations in the world. Establishing our presence here in one of the world's most important financial centres is of particular significance to our global growth strategy as it further anchors our footprint in Europe, which is now in more than 30 cities."

This addition follows recent launches in Spain and Germany, where Capri by Fraser, Barcelona/Spain and Capri by Fraser, Frankfurt/Germany opened earlier this year.

The opening of Fraser Suites Geneva will be the first of several in the pipeline.

Frasers Hospitality said its bullish European outlook is bolstered by steady occupancies of over 80 per cent on average.

The group's global portfolio, including those in the pipeline, stands at 136 properties in 78 cities.