Frasers Hospitality, a member of Frasers Centrepoint Limited, will be introducing its serviced residence brand Modena by Fraser to Thailand with the opening of Modena by Fraser Bangkok in 2016. The 239-unit Modena by Fraser Bangkok adds to Frasers Hospitality’s portfolio in Thailand where it currently operates the 163-unit Gold-Standard Fraser Suites Sukhumvit serviced residence in central Bangkok.
Modena by Fraser’s modern, stylish and eco-friendly approach to serviced residence living is designed for “road warrior” business travellers seeking affordable home comforts, with the added attraction of a localised residential experience. Featuring soft furnishings and amenities that are provincially sourced, it appeals to socially conscious travellers by offering the best of its locale including prominent displays of local artwork, fresh local produce at its all-day-dining restaurants, and arranged visits to local attractions.
Modena by Fraser Bangkok is a stylish, vibrant downtown serviced residence that is part of an eco-friendly mixed-use development, FYI Center. Created as an inspiring work-play-dwell environment, FYI Center offers flexible office spaces, retail and shopping as well as bike-friendly facilities. It is located at the corner of the bustling Rama IV Road directly opposite the Stock Exchange of Thailand, with links to the Queen Sirikit MRT and the National Convention Centre.
Mr Choe Peng Sum, Chief Executive Officer of Frasers Hospitality, said: “Thailand is an ideal market for the introduction of our Modena by Fraser brand, which has been refreshed to appeal to socially conscious Millennials who seek form and function. Modena by Fraser has previously proven to be successful as an affordable, stylish and aspirational serviced residence offering in China and as we develop this brand further with an emphasis on eco-friendliness and sustainability, travellers to Bangkok will benefit from the rejuvenation of this brand, which advocates a green approach to modern serviced residence living.”
One of the projected top five recipients of rising foreign direct investment in Southeast Asia , Thailand recorded FDI inflows of US$13 billion in 2014 and with its integration in the Asian Economic Community (AEC) is expected to attract increased FDI inflows. As at YTD May 2015, Thailand showed a 25% growth in arrivals over the same period in the previous year, signaling a continued recovery in 2015 .
He added, “The growth of Modena by Fraser is in line with our overall strategy to achieve 30,000 residence units over the next four years and together with our other brand offerings – Frasers serviced residences, Capri by Fraser hotel residences and Malmaison and Hotel du Vin lifestyle boutique hotels – it allows us to cater to a wider spectrum of travellers in each market.”
Frasers Hospitality’s global portfolio, including those in the pipeline, stands at 132 properties in 77 cities and more than 21,000 keys worldwide.