Singapore: Following the launch of its hotel residence brand Capri by Fraser in Asia Pacific, Frasers Hospitality is opening three Capri properties 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 European launch will be followed by the addition of another 10 Capri by Fraser properties in Asia Pacific over the next four years, which will bring the total number of Capri properties to 17, with more than 3,500 units, including those in the pipeline.
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."