Frasers Hospitality Pte Ltd. is targeting an approximately 85% growth in its China portfolio over the next few years to 30 properties.
The hotel company, a member of the Frasers Property Group with Frasers Property Ltd., is banking on the sustained growth of demand for accommodations in China that was observed in the 2016 and 2017 financial years. Choe Peng Sum, Frasers Hospitality's CEO, said in a release that the company is looking to continuously expand its footprint in first- and second-tier Chinese cities.
Frasers Hospitality's operations in China represents about a quarter of the company's global portfolio, which includes 150 properties across Asia, Europe, the Middle East and Africa. Its presence in China covers 11 cities, with 14 properties in its pipeline.
Most recently, it launched the 259-unit Fraser Suites Dalian in the Donggang business district of Dalian, China. The hotel within the mixed-use Europark Tower development is the company's 16th property in the country.