Positive impact

What are the challenges and opportunities for Fraser Hospitality’s reimagination journey post-lockdown?
Similar to many major hospitality companies, we enjoyed good traction in our growth trajectory pre-lockdown by capitalising on increased travel patterns globally fuelled by rising disposable incomes, expanding middle classes in emerging economies and the growing popularity of travel.

Like many others, Frasers Hospitality faced a stark decline in demand globally during the pandemic.

As guests sought longer stays than before, our extended-stay brand portfolio outperformed other traditional hospitality players and empowered us to remain resilient in times of crisis by providing our guests with trusted, cost-effective self-contained accommodation compared to traditional hotel rooms.

Post-lockdown, we experienced quick recovery as travel demand surged. As an extended-stay operator, we are also well-positioned to reap the benefits from tailwinds in the extended-stay segment, supported by notable shifts in trends such as bleisure and work-from-anywhere travel as travel duration continues to lengthen.

As travel behaviours continue to evolve with travel costs surging due to rising inflation, travellers now place greater emphasis on longer stays, flexibility and value for money.

Demand is being driven towards our segment with the ongoing evolution in global demographics, new mobility, rapid urbanisation and interesting megatrends such as an acute shortage in rental apartments.

As a natural progression and extension to our expertise in the extended-stay segment, we recently entered the premium rental apartment segment with two acquisitions in Shenzhen and Osaka given the tailwind in the long-stay segment.

These acquisitions are in line with our post-lockdown transformation and expansion strategy to evolve into an international lodging real estate player.

What is the future vision of Frasers Hospitality and its purpose? Where do you draw inspiration?
With a refreshed mission of wholeheartedly connecting people with life-enriching experiences, Frasers Hospitality is committed to creating meaningful connections and memories, providing conducive environments and practices to promote health and well-being, as well as making a positive impact in the communities that we serve.

Our purpose and mission have evolved not only to meet the changing needs of our guests, but also address the broader societal and environmental challenges of our time.

We have also embedded sustainability into our organisation’s philosophy and DNA as part of our renewed mission.

Our primary goal is to inspire and empower travellers to explore the world responsibly while leaving a lasting, positive impact.

We believe travel has the power to connect people, cultures and ideas, and we strive to facilitate those connections and create memories in a way that respects and preserves the beauty and diversity of our planet.

We also endeavour to create a positive impact on our local communities through our community engagement initiatives across all properties globally and to contribute positively to the socio-economic development of the destinations where we are present.

What changes or necessary steps are needed to advance, future-proof, and grow the business as Frasers Hospitality moves forward?
We are evolving to become a purpose-driven organisation to future-proof our business as we prioritise values beyond profit.

Hospitality is a people business and our employees are of utmost importance to the viability of our business. We are evolving our policies by adapting to emerging trends to foster a positive workplace environment by prioritising their well-being and investing in their growth and development.

We are also working to enhance the employee experience to attract and retain talent amid a persistent manpower crunch across the industry.

The vision and future are deeply intertwined with technological disruptions.

Looking ahead, we wish not only to leverage technology for efficiency and profitability, but also extend further to empower us to foster deeper connections with our partners and guests with highly customised recommendations through AI-powered predictive analysis of their preferences and behaviours.

We have also tapped into technology to enhance the tracking of our sustainability-related data to monitor progress towards our sustainability goals and identify areas for improvement.

Our employees are empowered to adopt an innovative mindset and are equipped with the right training and enabling tools to drive long-term growth.

We also recognise the crucial need to train our employees to adeptly blend technology with personalised services or solutions and continually adapt our business model to keep up with the rapidly changing digital landscape.

Projecting forward 50 years, what will/will not change in the hospitality industry?
While specific technologies and societal trends continue to evolve, the essence of hospitality will remain the same.

It embodies the art of anticipating and fulfilling the needs and desires of guests, often before they are even expressed, which we believe will be further revolutionised with more technological advancements.

Physical and digital experiences will blend seamlessly, offering guests unparalleled convenience and choice with hyper-personalised services and solutions.

We firmly believe that the most successful hospitality brands will be those that best integrate technology without losing sight of the importance of the human touch.

We also believe that travellers will continue to seek authentic cultural experiences and connections with local communities despite the convenience and accessibility which technology can offer.

Ultimately, the essence of travel lies in exploring new cultures, traditions and perspectives.