KUALA LUMPUR: Frasers Hospitality Pte Ltd (Fraser) aims to open 16 new properties this year, 12 under the Fraser brand and four under the new Modena brand while making its debut in 12 major cities.
Frasers Hospitality Pte Ltd, the hospitality arm of Frasers Centrepoint Ltd, a wholly-owned subsidiary of Fraser and Neave Ltd, is a global serviced residence owner and management company with Gold-Standard residences across Europe, North Asia, Southeast Asia, Middle East and Australia.
Its chief executive officer, Choe Peng Sum, said in a statement, the company would open new properties in Hungary, India, Qatar, United Arab Emirates, Malaysia, India, Japan, Middle East and China.
Frasers Hospitality currently manages 31 properties comprising 4,800 individual residences in 19 cities worldwide.
The company today (April 8) marked the beginning of a major presence in the Middle East with the grand opening of Fraser Suites Seef Bahrain, the first of five properties to come on line throughout this region over the next two years.
Choe said the Middle East remained an exciting growth area for business and tourism and was strategically for Frasers Hospitality, an important pillar in its global network.
"The Kingdom of Bahrain's growth is predicated on a rapidly diversifying economy with impressive expansion into new areas such as tourism, manufacturing, trade and commerce.
"The city's forecast of an estimated 6.7% growth in international arrivals this year, together with a sharp demand-supply imbalance in the hospitality sector, set the scene for a successful start to our expansion through the region," he said.
The opening of Fraser Suites Seef Bahrain will be followed in quick succession with the launch of two more properties, Fraser Suites Dubai and Fraser Suites Doha.
Another two properties already on the drawing board -- in Oman and the Kingdom of Saudi Arabia is scheduled to open within two years.
With another 6,000 residences already on the drawing board, the company is on course to manage more than 10,600 individual residences by the end 2012. -- Bernama
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