Frasers Hospitality has unveiled plans to add 12 more Capri-branded serviced residences across the world in the coming years, in a bid to meet “rising demand from millennial travellers”.
The Capri by Fraser brand became one of the original “lifestyle” serviced residence concepts when it launched five years ago, offering high-tech facilities such as laundrettes with games consoles, 24-hour fitness centres and meeting space with interactive touch-screen panels.
And following the launch of the brand’s seventh property, Capri by Fraser Berlin, Singapore-based Frasers Hospitality has unveiled plans to launch multiple new Capri-branded properties over the next four years. This expansion will be mainly focused on Asia, including key cities such as Shenzhen, Wuhan, Jakarta, Singapore and Kuala Lumpur. The brand’s third German property is being planned in Leipzig.
“Capri by Fraser… was created to cater to the evolving lifestyle needs of millennial travellers,” said Choe Peng Sum, CEO of Frasers Hospitality. “As one of the largest generations in history, millennials are currently spending an average of US$200 billion on travel each year, and their travel spending is set to increase as they enter their prime working and spending years.
“With 12 new properties in the pipeline, we will be taking the brand into new cities including Leipzig, Shenzhen, Wuhan, Jakarta, Johor Bahru, Balikpapan, Kalkara and Gurgaon over the next four years. We will also anchor our presence in key gateway cities such as Singapore and Kuala Lumpur with the addition of new Capri by Fraser hotel residences in these cities. This will extend the Capri by Fraser portfolio to 19 properties with over 4,000 keys by 2021,” he added.
Frasers Hospitality launched Capri by 2012, with the opening of its inaugural property close to Singapore’s Changi Airport. It has since expanded to locations in Australia, Germany, Spain and Vietnam.