Fraser opens residences in Budapest

Fraser opens residences in Budapest

Frasers Hospitality, the Singapore based serviced apartment operator, has announced the opening of its latest European hotel property in Budapest as part of the company’s ambitious expansion plans over the next two years.

The company is one of the world’s leading operators of short and long stay residences with 35 properties, throughout the Far East, China, Japan, Australia, Europe and the Middle East. The company will open its first properties in India in the next year.

Budapest is one of 16 new properties due to open in 2010 as the company moves towards its target of 10,600 apartments by the end of 2012.

Frasers Hospitality’s mission is to bring a new standard to the serviced apartment market with a high quality product and a service level that is unmatched by many.

The serviced apartment industry is growing fast with many travellers choosing quality residences that have many of the facilities that are available at a traditional hotel. Frasers Hospitality provides a product that fulfills all of these requirements and more. The company has developed a short stay offer that runs side by side the long stay guest requirements. Short stays, for business or leisure travellers, are now becoming popular and are a highly competitive offer against the traditional hotel. Staying at a Frasers Hospitality apartment can be aligned to a suite at a hotel but, at a fraction of the cost.

Fraser Residence Budapest is situated in the heart of the city in the Pest side behind the Corvin Promenade, which is the largest urban renewal programme in Central Europe. The stunning new property has a superb location and just moments from many retail shops, restaurants, pubs, cafés, plus a 2600 sqm fitness-wellness centre with a swimming pool.

Each of the 50 well-appointed contemporary studios, one, two and three bedroom penthouse apartments are furnished to high standard with open plan living and dining areas, fully equipped kitchens, laundry facilities, modern bathrooms, state of the art entertainment systems with high speed internet access throughout.

Full hotel style services will be available including 24 hour reception, security and concierge, a breakfast Suite offering a full Continental buffet breakfast each morning and a roof terrace with loungers to relax from the hustle and bustle of the city.

Said Guus Bakker, Chief Operating Officer for Europe and the Middle East, “Budapest is our first step into Eastern Europe as we continue to expand our product base. With Doha opening in the next months and our plans for Saudi Arabia and Oman due to be announced shortly, we are on target to achieve significant growth in our market area of Europe and the Middle East”.

The London office of Frasers Hospitality is responsible for the European and Middle East markets and has just announced its ninth London property with a boutique City based operation and has recently opened Dubai which will be followed by Doha. Frasers Suites Bahrain was the company’s first Middle East property opened in 2009.

The Middle East portfolio will expand significantly with several properties in Oman and Saudi Arabia currently being negotiated. The company expects to announce
the first two of these in the next months. 

In Europe, the addition of Budapest brings the European portfolio to 15 with nine in London, two in Scotland (Glasgow and the recently rebranded boutique hotel and serviced apartment property in Edinburgh), plus two in the centre of Paris. Further expansion is being targeted in Europe and includes the cities of Barcelona, Madrid, Geneva, Zurich, Munich, Frankfurt and Istanbul. 

Ilya Kalachev, via official press-release

Date: 23/11/2010