Frasers wins deal to manage hotel in Vietnam

Lee Young Jin of Luxel APT JVC (L, sitting) and Choe Peng Sum of Frasers Hospitality Pte Ltd sign the agreement in Singapore last month for the Capri by Fraser property in HCMC’s District 7- Photo: Courtesy of Frasers Hospitality

The Capri by Fraser property, which is under construction in District 7, is scheduled to open late this year. This is the third Capri by Fraser property to be secured by Frasers Hospitality in Southeast Asia following the opening of the first Capri by Fraser hotel residence in Singapore and announcement of a second property in Kuala Lumpur, set to open in March 2013.

Designed to meet the lifestyle needs of the e-generation travelers, Capri by Fraser is a hotel residence that offers its residents with a menu of services to choose the way they want to rest, relax and recharge.

The Capri by Fraser property in HCMC has 175 rooms that feature studios with one bedroom and one-plus-one bedroom suites with fully-equipped kitchen walls and home entertainment systems.

The property also comprises of three floors of in-property leisure and business facilities including an all-day dining café, deli and coffee bar, grocery and retail outlets, gym with steam and sauna facilities, a yoga and sun-tanning deck, and spa.

The Capri by Fraser brand is introduced into Vietnam as part of an agreement signed in Singapore last month between the hotel management firm and Luxel APT JVC, which is a joint venture between real estate developer BB Dai Minh Corp. in Vietnam and KRDF, an investment fund by one of the largest Korean funds in Vietnam, Korea Investment Trust Management Co Ltd.

The new brand also reinforces Frasers’ commitment to establishing a stronger presence in Vietnam, as the group now manages Fraser Suites Hanoi, which was launched in 2009.

Choe Peng Sum, chief executive officer of Frasers, said in a statement obtained by the Daily that Frasers was working with Luxel APT JVC to bring the new hotel residence concept into Vietnam to meet the work-life balance needs of a rapidly growing e-generation market sector.

“Based on the positive response to our new Capri by Fraser brand to date, we are very confident that this will be an important catalyst for us to build a stronger presence in Vietnam to meet the different residential needs of the increasing number of travelers,” Peng Sum said.

Lee Young Jin, general director of Luxel APT JVC, said the Capri by Fraser hotel residence concept specifically catered to the needs of singles and couples traveling to HCMC.

Figures of General Statistics Office indicated international arrivals in Vietnam in September grew by up to 61.6% to over 640,000, and in the first nine months of 2012 exceeded 4.85 million, up 13% compared to the year earlier period.

Frasers Hospitality quoted sources including the World Tourism Organization as saying that Vietnam’s tourism industry was expected to grow at an annual rate of 11.5-12% until 2020, generating a total revenue of about US$18-19 billion. The country is also projected to be among the top three rapid growth markets in Asia Pacific for 2013.

Frasers Hospitality’s current portfolio, including those in the pipeline, stands at 73 properties in 39 key gateway cities, and more than 12,200 apartments worldwide.