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Frasers Hospitality Pte Ltd Strengthens Presence in Australia with the Opening of Two Properties
Fraser Place Melbourne Grand Opens to Over 82% Occupancy. This follows the launch of Fraser Suites Perth in October.
Located in Melbourne’s entertainment quarter, surrounded by trendy cafes and jazz clubs and within a short walk from the city’s financial district, Fraser Place Melbourne features 112-spaciously laid-out studio residences with integrated living, dining and kitchen areas.
Chic and contemporary in design, with distinctive crisp colour tones that define the look and feel, each residence presents a perfect blend of space, comfort and functionality, which includes a spacious work desk, fully equipped kitchen, state-of-the-
With international tourism in Melbourne expected to grow at an average rate of 5.4 per cent up till 2014(1), Fraser Place Melbourne is well placed to cater to this increasing demand for quality accommodation. This is evidenced by the strong occupancy rates of more than 82 per cent that the property has enjoyed since its soft opening in July 2012.
Mr. Choe Peng Sum, Chief Executive Officer of Frasers Hospitality Pte Ltd said, “As one of the more robust economies in the current global market, Australia - with its well diversified economy boosted by the strength of its service and resource industries - offers tremendous potential for Frasers.
“The country is expected to see an increase in international traveller stays by an average annual rate of 3.8 per cent up till 2014(2), driving a demand for premium-serviced residences, which is in line with our growth strategy to establish a strong foothold in Australia’s key cities.”
This latest development follows the recent opening of Frasers Suites Perth in October to cater to the burgeoning demand for quality accommodation by the region’s thriving mining and resource sector. The luxuriously appointed 236-unit Gold-Standard serviced residences is conveniently located beside prestigious offices, key financial businesses and entertainment venues with enviable views of the Swan River.
Frasers’ third property in Australia is the prominent Fraser Suites Sydney, which is located beside the Darling Harbour precinct in the vibrant shopping and entertainment hub of Sydney.
Frasers Hospitality Pte Ltd’s current portfolio, including those in the pipeline, stands at 76 properties in 41 key gateway cities, and more than 12,300 apartments worldwide.
(1) Unlocking Victorian Tourism, Final Report, June 2011
(2) Deloitte’s Tourism and Hotel Market Outlook Q2/2012