Frasers Hospitality opens second property in Hanoi

November 28, 2018 | 08:52

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Hanoi, 28 November 2018 – Frasers Hospitality, a member of Frasers Property Group, today announced that it will open a new property in Hanoi as well as add a new wing to its first property in Vietnam, Fraser Suites Hanoi, bringing its total inventory in Hanoi to over 670 rooms.

frasers hospitality opens second property in hanoi

Artist’s impression of Fraser Residence Hanoi, scheduled to open in 2020

Situated opposite the lush green Hoa Binh Park and within proximity of specially zoned high-end residential areas such as Ciputra Hanoi International City and the new diplomatic precinct, Fraser Residence Hanoi offers panoramic views of the park, an extensive range of leisure amenities and a tranquil environment. Strategically located to meet the needs of business travellers, the 216-unit property is also minutes away from the Pham Van Dong highway, which connects the city centre, Noi Bai International Airport and key business centres.

To build on its success and tap into continued business and tourism growth in Vietnam, a new 96-unit wing will also be added to Fraser Suites Hanoi in the heart of the scenic West Lake district. The serviced apartments feature fully furnished units from studios to penthouses and a wide host of facilities and amenities, including a 24-hour gym, business meeting facilities and a beautifully landscaped resort-style pool.

Vietnam saw a record level of foreign direct investment last year and Hanoi witnessed robust tourism growth of 23 percent in foreign tourists in 2017 .

“Since its opening in 2009, Fraser Suites Hanoi has proved popular with senior management in MNCs and experienced professionals, with occupancy consistently in the 90 per cent range. The new wing and addition of Fraser Residence Hanoi will meet growing demand for accommodation in the extended stay space,” said Mr Choe Peng Sum, Chief Executive Officer of Frasers Hospitality.

According to research by Colliers International, Vietnam is undergoing an economic transformation with huge investment inflow from foreign companies, corporations and funds, creating demand for manpower or expertise from foreign countries for a certain period of time . This is driving the need for serviced apartments, especially in key cities.

Fraser Residence Hanoi is scheduled to open in 2020, while the new extension to Fraser Suites Hanoi is targeted for completion in 2020. The company also operates a Capri by Fraser hotel-residence in Ho Chi Minh City.

Frasers Hospitality’s global footprint stands at more than 150 properties in over 80 cities worldwide with over 24,000 keys.