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Frasers Hospitality Group expands footprint in Jakarta with ninth property
HOTELS and serviced residences owner Frasers Hospitality Group is on the move to ramp up its presence in Indonesia with the addition of its ninth property in Jakarta.
The hospitality arm of Frasers Centrepoint said on Tuesday it would launch this year Frasers Suites Kuningan, which is part of the prestigious Ciputra World 2 Jakarta - an iconic mixed-use development in the heart of Jakarta's Golden Triangle.
The 210-unit serviced residence is the latest addition to the group and meant that it is on track to meet its target of exceeding 1,500 units in the Indonesian capital by 2019.
In 2011, the group began operations in Jakarta with the opening of Fraser Residence Sudirman, followed by Fraser Residence Menteng in 2014 and Fraser Place Setiabudi in 2016. These properties have recorded steady occupancy rates of more than 75 per cent.
Choe Peng Sum, chief executive officer of Frasers Hospitality Group, said the group has a strong foothold in Jakarta and plans to strengthen its leadership position there in the year ahead.
"As Indonesia's economic, cultural and political centre, Jakarta continues to be the main hub and corporate headquarters for Indonesian and multinational corporations, and remains a key market for our strategic expansion plans in South-east Asia," he said.
He said foreign investments in Indonesia are projected to rise and the group's strategic expansion in Jakarta would cater to rising demand for quality accommodation by corporate and leisure travellers.
"With a strong estimated growth rate of 5.3 per cent for 2017, Indonesia continues to be of strategic significance to the group's global plans and we seek to further expand across key regions and secondary cities in the country such as Bali, Bandung, Medan, Surabaya and Yogyakarta," Mr Choe added.
Fraser Suites Kuningan is a gold-standard serviced residence with 31 floors strategically located in Jalan Profesor Dokter Satrio, an emerging financial, shopping and art district.
It offers easy access to the Mega Kuningan Business District and is also in close proximity to major developments including Ciputra World, ITC Kuningan and Kuningan City, the group said.
Globally, including those in the pipeline, the group owns 140 properties in more than 80 cities and 23,400 keys.