Frasers Hospitality has kicked off 2018 with a SGD250 million investment to develop a new serviced residence in Tokyo’s prestigious Ginza district.
The property will be launched under the group’s millennial-focused hotel residence brand Capri by Fraser.
Expected to open around 2020, it will join Fraser Suites Akasaka in meeting the needs of the growing number of visitors to Japan.
Strategically located in Tokyo well-known retail and entertainment district of Ginza, the new Capri by Fraser is just a two-minute walk from the main shopping street of Chuo-dori and a four-minute walk from the Shimbashi Station, providing guests with a quick and convenient route to the CBD just two stops away.
It will also be close to the Shiodome City Centre, which is home to the headquarters of companies such as Fujitsu and All Nippon Airways.
When opened, Capri by Fraser, Ginza, will complement Fraser Suites Akasaka, which is scheduled to open in 2020.
Designed by the world-renowned Hirsch Bedner Associates, the latter will offer luxurious studio and one-bedroom apartments at a central downtown location, surrounded by Tokyo’s main transportation hubs and foreign embassies.
“Tokyo is one of the world’s leading cities and we expect a rise in visitors in the coming years as it hosts prestigious global events such as the 2020 Summer Olympics,” said Choe Peng Sum, chief executive, 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.”
Backed by strong economic growth, Japan welcomed 26.2 million tourist arrivals from January to November 2017, surpassing the total number of visitors in 2016.
Japan’s prospects to attract more international travellers are promising, with the government aiming to attract 40 million tourists by 2020.
“Hotels in Tokyo are doing extremely well, with occupancy rates exceeding 85 per cent during the first half of 2017.
“Even as we prepare for the launch of Fraser Suites Akasaka in early 2020, we are particularly excited to have secured such an exclusive location in Ginza and we look forward to debuting our Capri by Fraser brand in Japan,” said Choe.
Launched in 2012 to meet the needs of millennials, the Capri by Fraser brand caters to the demands of the e-generation for whom efficiency and connectivity are key.
Meeting and conference facilities are equipped with the latest audio-visual capabilities.
Guests also have the option to unwind at the 24-hour gymnasium or the all-day dining restaurant and bar.
In addition, the brand’s emphasis on social interaction and community plays out in playful and engaging communal areas that are flexible enough to accommodate the diverse needs of guests.