![\"Choe](\"http:\/\/www.chinahospitalitynews.com\/cn\/wp-content\/uploads\/071108-fraser-choe.gif\" "\\"Choe")
Choe Peng Sum is the chief executive officer of Frasers Hospitality Pte Ltd, where he has overall responsibility for the expansion and business performance for Frasers' chain of serviced residences worldwide.<\/p>\nChoe Peng Sum is the chief executive officer of Frasers Hospitality Pte Ltd, where he has overall responsibility for the expansion and business performance for Frasers' chain of serviced residences worldwide.<\/p>\n
When looking for partners in China, what specific traits do you look for?
\nInternationalization is part of Frasers' business strategy. We have put effort into expanding our footprint in Europe, South Asia and the Middle East and now we are focusing on hot markets like China and India. China is a very important market for Frasers and we're looking to expand rapidly with the setup of new Fraser serviced residences in both Tier 1 and Tier 2 cities. This includes areas like Beijing, Chengdu, Guangzhou, and Hong Kong. Even in cities where we're present; including those where we're due to open this year such as Shanghai and Nanjing; we are looking to expand with more than one Fraser property.<\/p>\n
The importance of the China market is tied to key growth drivers. Pent up demand for serviced residences, market maturity for extended-stay accommodation, and lack of international players with strong management and branding credentials is one driver. We also look for encouraging signs of political\/economic stability with strong government policies to develop the various cities, as compared to other developing markets such as India and Russia. Another driver is the open-mindedness of local partners to invest in quality, internationally branded, products, and to market new lifestyle practices.<\/p>\n
Frasers' global expansion focuses on prime, exclusive and accessible locations in key gateway cities. A key point of consideration would be the Foreign Direct Investment Index, an indirect indicator of expatriate inflow. China's foreign direct investment grew 12% to US$31.9 billion in the first half of 2007.<\/p>\n
How do you choose the physical locations for your properties in China? What makes areas like Shekou and Futian special?
\nFraser is in Shanghai, Beijing, Guangzhou and Shenzhen, Nanjing, Tianjin, and Chengdu. We are constantly on the look out for more opportunities to expand our footprint. Moving forward, we will continue to expand in those secondary cities of China with strong foreign investment, such as Dalian, Tianjin, Shenyang, Tianjin, Chongqing, and Qingdao. We cater almost exclusively to expatriates on extended stay postings, which normally run from two weeks to six months, but which can extend to three years or more.<\/p>\n
Fraser Place Shekou, one of only five pioneering projects in China, is built with the environment in mind and is designed by a US-based architect with a LEED Design award for environmental friendliness. Nestled on top of Nanshan Hill, Fraser Place Shekou is located in the largest residential area in Whale Garden and is surrounded by the commercial administration area at Guishan Road. The residence is also strategically located adjacent to Shekou's financial district and is easily accessible from Gonye Road.<\/p>\n
Fraser Residence Futian, incorporating the best modern architectural innovations, is situated along the main Shennan Avenue in Shenzhen in close proximity to the Central Business District. Located minutes away from the residence are the new Shenzhen Convention and Exhibition Centre, the Shenzhen Gold hub, and Xiang Ming Mi Hu Mass Rapid Transit railway station.<\/p>\n","protected":false},"excerpt":{"rendered":"
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