Frasers Hospitality to double its Middle East portfolio

Frasers Hospitality to double its Middle East portfolio
Frasers Suites Riyadh.
Published: 18 March 2018 - 2:50 a.m.
By: Shishira Sreenivas

Frasers Hospitality, a member of Frasers Property Group, is set to double its portfolio in the Middle East in the coming years. The recent opening of Fraser Suites Riyadh and soon-to-open Fraser Suites Muscat join existing properties Fraser Suites Seef, Bahrain, Fraser Suites Diplomatic Area Bahrain, Fraser Suites Dubai and others.

With three more properties planned in Dubai, one in Jeddah, one in Al Khobar and one in Kuwait, Frasers Hospitality is set to have 13 properties across eight cities over the next few years.

Commenting on the expansion, Frasers Hospitality CEO Choe Peng Sum said: “It is timely for us to scale up in the Middle East. We have a loyal base of corporate customers and this has contributed to the success of our properties in Bahrain and Dubai, which are enjoying average occupancies of over 85%.”

Peng Sum said the opening in Saudi Arabia is in line with the country’s Vision 2030. “Saudi Arabia is expecting more than 31 million tourist arrivals by 2027 as it commits to implementing Vision 2030, its most ambitious economic reform programme to date,” Sum pointed out.

As for its soon-to-launch Frasers Suites Muscat, a 120-key property scheduled to open in Q2 of 2018, the hotel company is leveraging on the increase in tourism investment as Oman diversifies away from an oil-based economy.

As of 2017, Frasers Hospitality has equity interests in or manages more than 16,000 units and has more than 8,000 units as signed-up or pending openings. Currently, the company has more than 150 properties in over 80 cities, a statement on the company website said.

 

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