Frasers Hospitality has opened its second property in Jakarta, marking the start of a major expansion in the city and across Indonesia.
The new Fraser Residence Menteng, located in the centre of the Indonesian capital, will be followed by six more properties in Jakarta over the next three years.
Nationwide, Frasers plans to have a portfolio of 10 Indonesian properties comprising more than 1,700 serviced apartment units operating by 2017. This will include several of the company’s brands, such as Fraser Residence, Fraser Suites, Fraser Place and Capri by Fraser.
“We are very bullish on Indonesia,” said Frasers’ CEO, Choe Peng Sum. “With its strong [GDP] growth… and arrivals growing at about 10% each year, the country offers great potential for our Fraser brands which target professionals, managers and executives travelling on medium-term work projects.
“Our first property, Fraser Residence Sudirman Jakarta, opened in 2011 and has enjoyed occupancy exceeding 90%. We believe the Fraser Residence blend of comfort and security makes it ideal for business travellers who want a private sanctuary in the heart of the city,” added Choe.
And kicking off this latest phase of expansion is the Fraser Residence Menteng, which offers 128 apartments, a fitness centre, spa, lap pool, games room and indoor children’s playroom, as well as a residents’ lounge and library. Free Wi-Fi is available throughout the property.
The Indonesian growth plan forms part of Frasers’ broader strategy to almost double its global inventory to 30,000 units over the next five years.