THE 112-unit Fraser Place Melbourne, which soft opened in July and celebrated its grand opening on Tuesday, has reported a robust occupancy of more than 82 per cent.
Located in Melbourne’s entertainment quarter and near the city’s financial district, the new property offers spacious studio residences with integrated living, dining and kitchen areas. Residents are given access to a gym and Apple Mac workstations in the lounge.
According to a press statement from Frasers Hospitality, Fraser Place Melbourne is well placed to cater to an increasing demand for quality accommodation in a city that is expected to see international tourism grow at an average rate of 5.4 per cent until 2014.
The property’s opening is in line with Frasers Hospitality’s move to strengthen its presence in Australia, where it soft opened the luxurious 236-unit Fraser Suites Perth in October. The company’s third property in the country is Fraser Suites Sydney.
Choe Peng Sum, Frasers Hospitality CEO, said: “As one of the more robust economies in the current global market, Australia – with its well diversified economy boosted by the strength of its service and resource industries – offers tremendous potential for Frasers.
“The country is expected to see an increase in international traveller stays by an average annual rate of 3.8 per cent up till 2014, driving a demand for premium-serviced residences, which is in line with our growth strategy to establish a strong foothold in Australia’s key cities.”