Latest news with #FrasersHospitality
Business Times
5 days ago
- Business
- Business Times
Ascott, Frasers Hospitality expand footprint in Asia
[SINGAPORE] Lodging sector players Ascott and Frasers Hospitality issued separate statements on Tuesday (Jun 3) announcing their expansion in Asia with new signings and openings. Ascott, the wholly owned lodging business of CapitaLand Investment (CLI), secured four new signings and one opening under its luxury brand, The Crest Collection, in the past six months, amid rising demand for luxury travel. This adds more than 1,200 units to its portfolio, which now comprises 16 properties with more than 2,700 units, both operational and in the pipeline, across 11 countries and 13 cities, CLI said. Meanwhile, Frasers Hospitality, a Frasers Property unit, opened two new China properties under its Modena by Fraser brand. The additions are part of Fraser Hospitality's efforts to grow its presence in mainland China and strengthen its leadership in the extended-stay segment. 'The China market is central to our long-term strategy for Asia... Our two new Modena by Fraser properties represent a significant step in strengthening our presence in this region,' said Eu Chin Fen, chief executive officer of Frasers Hospitality. A NEWSLETTER FOR YOU Tuesday, 12 pm Property Insights Get an exclusive analysis of real estate and property news in Singapore and beyond. Sign Up Sign Up Ascott taps growing luxury travel market Among Ascott's new additions under The Crest Collection is Sen/Ka Tokyo, the brand's maiden signing in Japan that is set to open in the second half of 2029. The brand's expanded footprint in Asia also includes two China developments. They are Hong Yuan Hotel which opened in Haikou, Hainan province, at the end of 2024, and a property in Wuhan's Donghu New Technology Development Zone slated to open by mid-2026. The brand is making its debut in two Middle East countries. Its first resort, Al Mahra Resort, is set to open in early 2027 in the United Arab Emirates. Its first Saudi Arabia property is slated to open in the country's capital, Riyadh, in 2028. Frasers Hospitality opens two China properties in line with Asia strategy Modena by Fraser Shenzhen, the brand's seventh property in China, is located in the heart of the Luohu district, Shenzhen, in the Greater Bay Area. The residence, which soft opened on Mar 29, 2025, features 325 contemporary apartments ranging from studios to two-bedroom units that are designed with multi-functional areas to support short and long-term stays. Housed in Shennan 1001, a landmark development in Shenzhen, the tower's spiral facade takes inspiration from traditional Chinese scroll paintings. As the city's first property under the Modena by Fraser brand, it offers direct connectivity to Hong Kong and is minutes away from the Luohu, Wenjindu and Liantang border crossings. It is a short drive to Luohu port and is connected to Shenzhen Metro via lines 2, 5 and 8. It includes lifestyle amenities designed to support active living and to facilitate community interaction, such as a pickleball court, a gym, yoga studio, relaxation lounge, lobby cafe and an outdoor barbecue area. Modena by Fraser Wujiaochang Shanghai, the brand's eighth China property, soft opened on May 20, 2025. Located at the heart of the Yangpu district, Shanghai, it is close to Wujiaochang commercial hub as well as global tech companies, shopping centres and educational institutions such as Fudan University and Tongji Universities. It offers 307 fully furnished studios and one and two-bedroom apartments ranging in size from 23 to 66 square metres. Designed to enhance productivity and relaxation, the property features facilities such as a landscaped garden, a relaxation room, a yoga studio and a gym. It also includes meeting spaces and a common room with amphitheatre seating, where guests can host business and social events, alongside a restaurant. It has access to multiple bus routes and metro lines 10 and 18.
Forbes
14-05-2025
- Business
- Forbes
Thai Billionaire's Frasers Property Offers To Take Hotel REIT Private For Second Time In $1 Billion Deal
Frasers Property—controlled by Thai billionaire Charoen Sirivadhanabhakdi—is seeking to take Frasers Hospitality Trust private for a second time in almost three years in a deal valuing the Singapore-listed real estate investment trust at S$1.37 billion ($1 billion). Under the deal, which is subject to regulatory approvals, Frasers Property is offering to buy the rest of the REIT that it doesn't own at S$0.71 per share, according to a regulatory filing on Wednesday. 'The decision to propose this scheme was not taken lightly,' Eric Gan, CEO of Frasers Hospitality's manager, said in a statement. 'It reflects our commitment to act in the interests of our stapled securityholders amid structural challenges and an increasingly complex global environment.' Frasers Property first attempted to take Frasers Hospitality private in June 2022 when it offered S$0.70 apiece but it failed to get enough votes from minority shareholders. About 74.9% of shareholders accepted the previous offer, falling short of the 75% threshold required by regulators. Since then the macroeconomic situation has worsened amid higher interest rates and foreign exchange volatility, That's made it more challenging for Frasers Hospitality to boost dividends and the REIT's net asset value, the company said. Frasers Property owns about 24.2% of the REIT, while Charoen's TCC Group holds 36.7% and minority shareholders own the rest, according to Frasers Hospitality's latest annual report. Listed on the Singapore Exchange since July 2014, Frasers Hospitality owns 14 properties with a total of more than 3,400 rooms across eight hotels and six serviced residences in nine major cities in Asia, Australia, and Europe. The S$2 billion property portfolio includes InterContinental Singapore, Novotel Sydney Darling Square, and The Westin Kuala Lumpur. With an estimated net worth of $11.2 billion based on Forbes' real-time data, Charoen is among the wealthiest in Thailand. In addition to his controlling stake in Frasers Property, he also has interests in Thai Beverages (maker of Chang Beer), property developer Asset World, and the Big C Supercenter retail chain.
