Following the successful launches of its hotel residence brand Capri by Fraser in Asia Pacific, Frasers Hospitality, a member of Frasers Centrepoint Limited, is taking it global with the launch of three new Capri by Fraser hotel residences in Europe. The recent opening of the 97-unit Capri by Fraser, Barcelona/Spain and the 153-unit Capri by Fraser, Frankfurt/Germany this year will be followed by the opening of Capri by Fraser, Berlin/Germany in 2017.
The new openings also mark Frasers Hospitality’s entry into Germany and Spain, which continue to be attractive destinations for business and leisure, ranking among the top five European countries that continue to attract foreign direct investment (FDI). Germany is among the top 10 worldwide destinations for tourism and culture2 and Spain saw a recordof 65 million tourist arrivals in 2014.
The reception of the Capri by Fraser brand is attributed the uniqueness of its proposition as an urban-inspired, design-led hotel residence concept that provides guests the flexibility to choose how they want to rest, relax and recharge. Created in 2012 specifically to cater to the “always-on” lifestyle needs of e-generation travellers, the flagship Capri by Fraser, Changi City/Singapore has been enjoying steady occupancy of more than 85 percent and the recipient of several prestigious awards. This was followed by the opening of Capri by Fraser, Ho Chi Minh City/Vietnam in 2013, Capri by Fraser, Kuala Lumpur/Malaysia in 2014, and Capri by Fraser, Brisbane/Australia earlier this year.
Reflecting the global demand for Capri by Fraser, this Europe launch will be followed by the addition of another 10 Capri by Fraser properties4 in Asia Pacific over the next four years, which will bring the total number of Capri by Fraser hotel residences to 17 properties with more than 3,500 units, including those in the pipeline.
Mr Choe Peng Sum, Chief Executive Officer of Frasers Hospitality, said: “We are delighted with how our Capri by Fraser brand has taken off in Asia Pacific and now in Europe. A lot of effort was put into creating a product that appeals to Millennial travellers, who today represent 20% of international travellers and are expected to make 320 million international trips each year by 20205. It is specifically for this group of travel-savvy, Internet-dependent, spontaneous travellers who seek-out unconventional accommodation concepts that this tech-forward, e-efficient and intuitive brand was created, with a focus on providing more choice and enhancing work-life balance.”
“We see great growth potential for the Capri by Fraser brand in Europe, which is a highly mobile business environment, and believe it will continue to be a key contributor to our global expansion goal of 30,000 residence units by 2019.”
According to a report by the Global Business Travel Association, business travel spending in Germany, Spain, the UK, France and Italy advanced by 4.3% over the first half of 2014, the largest gain in business travel spending since 2010.
