Frasers Hospitality Group, a unit of Frasers Centrepoint, will open a 223-unit serviced residence in Tokyo's prime district of Minato-ku, Akasaka, marking its first foray into Japan's capital city.
The firm will partner Japanese real estate developer Sekisui House to launch Fraser Suites Tokyo, which will be redeveloped from an existing four-storey commercial building to a 23-storey tower, Frasers Hospitality said yesterday.
"Globally we aim to have a presence in major key gateway cities, and our entrance into Tokyo brings us one step closer to this goal," said Frasers Hospitality chief executive Choe Peng Sum in the statement.
He added that the firm hopes to "continually increase" its portfolio in central Japan. Its other serviced residence in Japan is in Osaka.
Frasers Hospitality's global portfolio - including projects in the pipeline and those under management contracts - stands at 139 properties in more than 80 cities, with 22,800 units.
Fraser Suites Tokyo is slated to open in time for the 2020 Summer Olympics, which will be held in the Japanese capital.
Mr Choe noted: "Along with the government's plan to achieve its target of 40 million visitors by 2020, we will expect to see a rise in room rates against the backdrop of increasing demand."
Citing data from the Japan National Tourism Organisation, Frasers Hospitality said the growth of international tourists has been robust over the last few years and recorded arrivals of 11.1 million in the third quarter of 2015, up by 47 per cent from the same period a year ago.
Its upcoming serviced residence in Tokyo will offer a selection of studio apartments and one-bedroom units ranging from 35 to 60 square metres. It also comes with a range of lifestyle amenities, including a 24-hour gymnasium, a golf simulator, an alfresco restaurant and, conference and meeting facility.
Frasers Hospitality added that international design firm Hirsch Bedner Associates has been appointed the interior designers of Fraser Suites Tokyo. According to the interior design firm's website, its projects here included Amara Singapore Hotel, Marriott Singapore and The Fullerton Hotel.
Its partner, property developer Sekisui House, had previously worked with renowned hotel brands to launch Ritz Carlton in Kyoto and St Regis in Osaka.