SINGAPORE, 2 June 2021: Frasers Hospitality, a member of
Frasers Property Group, is set to expand its portfolio in China with properties
in key Chinese gateway cities over the next four years.

Upcoming openings in China’s first and second-tier cities
include Fraser Residence Chongqing, Fraser Suites Pazhou, Guangzhou, Fraser
Residence Shenzhen, Fraser Residence Nanjing, Fraser Residence Tianjin, Fraser
Place Chengdu and Modena by Fraser Nanjing in cities where Frasers Hospitality
has an existing presence.

Frasers Hospitality currently operates 12 properties across
12 key gateway cities in China. The new signings will add seven properties to
the group’s portfolio in these main cities and bring its total inventory in the
country to over 4,500 keys.

The group’s current portfolio in China includes properties
in Beijing, Changsha, Chengdu, Dalian, Guangzhou, Shanghai, Shenzhen, Tianjin,
Wuhan, and Wuxi. The new openings will bring the hospitality provider’s global
portfolio to more than 120 properties in over 70 cities worldwide.

“Despite the global economic slowdown caused by the Covid-19
pandemic, China remains the world’s second-largest economy1 and one of the
most-watched inbound and outbound tourist markets2. As such, it will continue
to play an integral role in our expansion plans as we seek to bring Frasers
Hospitality’s trademark intuitive service and Gold-Standard residences to key
cities globally,” said Frasers Hospitality chief operating officer Mark Chan.
“We look forward to tapping on this strong recovery momentum and introduce more
premier developments in China’s key and second-tier cities.”

“Despite the current challenges, our properties in China
have remained resilient as they are fuelled by a strong base of long-stay
corporate guests. At the same time, demand for our serviced apartments also
appeal to shorter-term guests who are showing a preference for larger personal
spaces and privacy, Chan noted.

(Source: News Frasers Hospitality)