SINGAPORE - Frasers Hospitality is on track to meet its global target of 30,000 units by 2019, with the openings of 48 properties across Asia, Europe, Middle East and Africa.
Almost half or 21 properties are in places where Frasers has not had a presence such as Changsha and Nanchang in China, Johor Bahru and Penang in Malaysia, Riyadh and Jeddah in Saudi Arabia as well as Berlin and Hamburg in Germany, said the hospitality arm of mainboard-listed Frasers Centrepoint in a Singapore Exchange filing.
"Reaching the 30,000 unit growth mark in the next three years not only increases our portfolio by 30 per cent, but further anchors the group's presence in dominant cities worldwide as well," said Frasers Hospitality chief executive Choe Peng Sum in a statement.
He is looking at growing the group's portfolio both organically as well as through acquisition.
Growth by acquisition figured prominently in Europe, as reflected in its recent acquisition and rebranding of four boutique hotels located in key cities and university towns in Britain: Avon Gorge Hotel, Bristol; Magdalen Chapter, Exeter; Montpellier Chapter, Cheltenham and Hotel Seattle, Brighton.
These hotels, along with two new properties will add to the portfolio of 35 Malmaison and Hotel du Vin properties in Britain that Frasers Hospitality bought a year ago.
Following the group's recent launch of Capri in Barcelona, Spain and Frankfurt, Germany as well as Fraser Suites Geneva in Switzerland, Frasers Hospitality is also set to open its first properties in Berlin and Hamburg.
Listed Frasers Hospitality Trust, meanwhile, recently bought Maritim Hotel Dresden.
In the Middle East, occupancy has been consistently high since 2009 when Frasers Hospitality launched its first property in Dubai and Doha.
Owing to strong demand, Frasers Hospitality will increase its portfolio from four to 11 properties comprising more than 1,600 units in this region. These additional properties will open in Dubai, Doha, and with new forays into Riyadh, Khobar, Dammam and Jeddah.
The opening of Fraser Suites Abuja in Nigeria later this year will mark Frasers Hospitality's venture into its fourth continent, Africa. This will be followed by openings in Lagos and Congo as well.
In China, there is a slate of opening, starting with the 345-unit Modena by Fraser Changsha this year and the 259-unit Fraser Suites Dalian Europark and 174-unit Fraser Place Nanchang by 2017.
Elsewhere in Asia, a number of properties will open in Indonesia, Thailand, Singapore, and Malaysia. They make up half of the 48 properties in the pipeline, including Frasers Hospitality's first serviced residence in Gurgaon, India, due to open in 2017.
Frasers Hospitality operates 139 properties comprising 22,800 units in more than 80 cities, under various serviced residence brands including its flagship Fraser Suites, Modena, Capri by Fraser as well as upscale boutique hotels - Malmaison and Hotel du Vin.