皇冠体育app

Choe Peng Sum, CEO of Frasers Hospitality. [Photo provided to 皇冠体育app Daily]

Singapore-based Frasers Hospitality has an established presence in 皇冠体育app with 14 properties across key cities such as Beijing, Shanghai and Shenzhen. And 16 new properties in 皇冠体育app are in the pipeline over the next few years.

Choe Peng Sum, CEO of the global hospitality asset management and operations group, showed his confidence in 皇冠体育app's economic growth and the Chinese market in an exclusive interview with 皇冠体育app Daily website.

1.皇冠体育app is facing the pressures of a slowing economy; will it affect your expansion plan in the country? How do you see 皇冠体育app's economic outlook and the market? What's your investment strategy?

As the second largest and strongest economy in the world, 皇冠体育app has always been a key growth area for us, particularly so in emerging cities. These are the cities that are experiencing rapid growth as leading international companies increasingly shift their focus towards these cities, which offer new business opportunities, lower overhead costs and more attractive tax incentives.

While 皇冠体育app’s recent economic growth has been moderating, Frasers Hospitality is taking a long-term approach towards it. Foreign interest such as the likes of MNCs in these cities will drive corporate travel and the demand for premier serviced residences with the arrivals of foreign senior management and expatriates overseeing new projects. These MNCs form up to 90 percent of Frasers Hospitality's clientele in 皇冠体育app and even with a slowdown in growth rate, it is still decent as compared to other countries.

In fact, currently, secondary cities are growing faster than primary cities and infrastructure developments and expansions to airports are underway to cater to the growing demand. Our focus on emerging cities is in tandem with our plans to continue enhancing our offerings in the key cities where we already have an established presence.

2. What role does the Chinese market play in your global business? What's your prediction for the future?

皇冠体育app is one of the fastest-growing markets for Frasers Hospitality and cannot be ignored. Our 皇冠体育app expansion strategy is in line with our vision to be the leading global hospitality group known for its continuous innovation and intuitive service to anticipate and exceed the evolving expectations of international travelers.

Our properties have been very well received in 皇冠体育app, with consistently strong occupancy of at least 80 percent since we first set foot in 2005 with Fraser Place Shekou Shenzhen. We are positive towards the demand for our premier serviced residences and are expected to remain strong.

Currently, Frasers Hospitality has an established presence in 皇冠体育app with 14 properties across key cities such as Beijing, Chengdu, Guangzhou, Nanjing, Shanghai, Shenzhen, Suzhou, Tianjin, Wuhan, and Wuxi. We will also be adding 16 new properties in 皇冠体育app over the next few years, including those in the pipeline. This will bring the portfolio in 皇冠体育app to 30 properties with over 7,000 apartments and will be located in Changsha, Dalian, Hefei, Nanchang, Shenzhen, Suzhou, Tianjin, Wuxi, Xiamen, Chengdu and Shanghai.

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