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.
The admission and listing of Frasers Centrepoint Limited on the Singapore Exchange Securities Trading Limited (the “Listing”) was sponsored by DBS Bank Ltd. as the Sole Issue Manager. DBS Bank Ltd., United Overseas Bank Limited and Morgan Stanley Asia (Singapore) Pte. were the Joint Financial Advisers for the Listing. DBS Bank Ltd., United Overseas Bank Limited and Morgan Stanley Asia (Singapore) Pte. assume no responsibility for the contents of this announcement.
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.
The Modena by Fraser brand first made its debut in China in 2010 with the opening of Modena by Fraser Heping Tianjin. The years that followed saw the launch of four more Modena by Fraser properties – Modena by Fraser Putuo Shanghai, Modena by Fraser Jinjhu Suzhou, Modena by Fraser Wuxi and Modena by Fraser Zhuankou Wuhan – which reflect the positive reception of Modena by Fraser’s fresh approach to modern serviced residence living in each market.
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 ecofriendliness 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 Asia2 , Thailand recorded FDI inflows of US$13 billion in 20143 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 20154 .
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.”
Modena by Fraser Bangkok
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 bikefriendly 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.
Featuring touches of local flavour such as Thai graffiti, local fabric “patchwork” and vernacular architecture in its interior design, Modena by Fraser Bangkok offers business travellers essential home conveniences along with customisable add-ons.
Business executives can choose from a range of fully furnished studios to three-bedroom apartments that come complete with a spacious living area, a well-equipped kitchenette, modern workspace and comprehensive home entertainment system.
Complimentary high-speed Internet access is available to keep travellers constantly connected and there is a 24-hour gym, steam and sauna facilities, self-service launderette, meeting and conference facilities, an all-day-dining restaurant offering ‘grab-and-go’ meals that feature fresh local market product and organic ingredients, and visits to local cottage industries and social enterprises, ideal for socially-conscious travellers.
Frasers Hospitality’s global portfolio, including those in the pipeline, stands at 132 properties5 in 77 cities and more than 21,000 keys worldwide.