Multi-brand long-stay accommodation provider Frasers Hospitality is expanding its China portfolio with the imminent opening of the 255-unit Fraser Place Chengdu, targeted to soft open on March 29, and the 325-key Modena by Fraser Shenzhen in the second quarter.
Fraser Place Chengdu is strategically situated in the heart of Chengdu Gaoxin District, a major high-tech hub of technology and innovation in western China, and is connected to a modern mixed-use development – Chengdu Poly Time Edition.
The property is also within a short distance of Global Centre Chengdu, SKP Chengdu, Chengdu Yintai Center In99 offering a range of retail, dining, and entertainment options.
Modena by Fraser Shenzhen is located in the bustling commercial core of Luohu District, located within Shennan 1001, a landmark development integrating a premium office building, boutiques and upscale cultural experiences.
The group is also scheduled to open Fraser Residence Forte Nanjing, Modena by Fraser Dalian, and Modena by Fraser Nansha Guangzhou this year and Fraser Place Nanjing in early 2025.
Mark Chan, chief operating officer, Frasers Hospitality, commented: “The market is still gathering pace, with supply exceeding demand especially in Tier 1 and 2 cities. With China recently relaxing visa requirements, we are looking at a slight uptick in inbound leisure travel from visa-free countries. However, the recovery from the business side of the demand is still uneven.
“We are hopeful that the conclusion of the Two Sessions (the Chinese government’s annual plenary sessions of the National People’s Congress and the Chinese People’s Political Consultative Conference in March), and the introduction of more targeted economic policies will drive up demand in the near future.”
Frasers Hospitality’s properties in China have a 6:4 ratio of international versus domestic travellers, with top overseas source markets being regional neighbours Japan, Singapore, and South Korea.
