Frasers Hospitality to open Tokyo serviced residence on Aug 7

FRASERS Hospitality, a member of Frasers Property, on Thursday said it is opening a 22-storey serviced residence named Fraser Suites Akasaka in Japan on Aug 7.

The 224-room property is located in Tokyo's central business district between the Akasaka, Akasaka-mitsuke and Aoyama-itchome metro stations. It is surrounded by major local and multinational corporations, as well as foreign embassies and the Tokyo Broadcasting System Television building.

It is also in the vicinity of two city zones that will serve as the venues for the upcoming Olympic Games.

Frasers Hospitality said that despite a temporary halt to tourism due to the Covid-19 pandemic, Tokyo was consistently the most visited city in Japan, with almost four in 10 business travellers staying for an average of over seven days per visit.

It added that Japan has always been a strategic market for the company, with Tokyo being a key gateway city for business.

Frasers Hospitality chief executive Koh Teck Chuan noted that Japan's domestic travel demand is picking up, and cited government discussions for the creation of a "travel bubble".

Fraser Suites Akasaka general manager Huang Meilin said the serviced residence was "keeping pace with changes in travel advisories and amending policies accordingly, as well as extending flexibility on bookings where needed".

Frasers Hospitality said the rooms, which start at 32 square metres, are larger than the average size of accommodation in densely populated Tokyo. They also have large bay windows that offer unobstructed views of the Tokyo skyline, Tokyo Skytree and Mount Fuji.

When open, the property will offer facilities such as a 24-hour gym, restaurant, and a golf simulator.

Shares of Frasers Property were trading at S$1.16 as at 1.04pm on Thursday, down S$0.01 or 0.9 per cent.