The property will be launched under the Group’s millennial-focused hotel residence brand Capri by Fraser, offering close to 200 rooms as well as social spaces. The property is expected to open around 2020.
Frasers Hospitality, a member of Frasers Property Group, will be developing a new S$250 million (US$189.7 million) serviced residence in Tokyo’s Ginza district.
The property will be launched under the Group’s millennial-focused hotel residence brand Capri by Fraser, offering close to 200 rooms as well as social spaces. The property is expected to open around 2020.
Capri by Fraser, Ginza will be located in Tokyo’s retail and entertainment district of Ginza, and is a two-minute walk away from the main shopping street of Chuodori. The property is a four-minute walk away from the Shimbashi Station and the Shiodome City Center will also be close by.
It will join Fraser Suites Akasaka, which is also expected to open in 2020 and will offer studio and one-bedroom apartments.
“Hotels in Tokyo are doing extremely well, with occupancy rates exceeding 85% during the first half of 2017,” said Choe Peng Sum, chief executive officer of Frasers Hospitality.
“Frasers Hospitality is no stranger to the Japanese market. We opened Fraser Residence Nankai, Osaka in 2010. The country continues to be a priority market for us and we are looking to extend our footprint not just in Tokyo but also other key cities in Japan,” Choe added.
Frasers Hospitality’s global portfolio, including those in the pipeline, stands at more than 145 properties in over 80 cities with close to 23,000 keys.