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Press Releases

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FRASER SUITES STAYS AHEAD IN SEOUL
26 Mar 2004 - Seoul

New General Manager appointed; infrastructure upgrades, lifestyle programmes on the cards.

Seoul, (March 26, 2004) – Fraser, the premier international serviced residence chain with gold standard residences in Singapore, Seoul, Manila and London, today announced the appointment of a new General Manager for Fraser Suites Rodamco Place - Seoul, a move that will continue to strengthen Fraser’s leadership position in South Korea’s competitive market.

Mr Augustine (Gus) SILVA is not new to the Korean market. He headed the pre-opening team that prepared Fraser Suites for its launch in 2002. Together with the efforts of the management team, Fraser Suites now leads South Korea’s serviced apartment industry in terms of occupancy.

“With an average occupancy of 80 per cent in 2003, we lead the market where average industry occupancies was 65 per cent for service residences and 68 per cent for deluxe hotels,” said Mr Silva, with reference to local reports in The Korea Times and The Korea Herald.

While the serviced residence industry is very competitive – the number of apartment units in Seoul has more than doubled over the last two years, to some 2,000 units – Fraser has launched several initiatives to keep its lead.

“We will continue to seek to improve the guests’ experience and have already set in motion plans to bring in more innovative lifestyle programmes to maintain our lead. Security systems and measures, already a major priority at all Fraser properties, will be further enhanced.”

The multiple award-winning Fraser Suites has enjoyed outstanding success in Seoul; twice bagging The Korea Herald’s Best Brand Award – in 2002 and again in 2003 – the gold standard serviced residence also won the Best Brand Award presented by The Korea Times last year.

Fraser’s strong branding is the key differentiator. By providing a home away from home and catering to the unique needs of every guest, Fraser has built a strong base of loyal customers, which includes ambassadors and other C-level executives; Fully three quarter of Fortune 500 companies use Fraser to house their top executives – and their families – on medium-term work assignments.

“Fraser stands out above the competition because our hospitality philosophy hinges on the importance of the brand-customer relationship,” said Mr Silva. “We are committed to always ensuring our guests’ expectations are met, if not exceeded.”

Fraser Suites, located in the cultural district of Insadong, boasts the world’s first rooftop golf driving range, heated indoor swimming pool with steam and sauna rooms, fully equipped fitness centre with aerobics/exercise area, indoor children’s playroom and a comprehensive business centre with meeting facilities.

It is also studying the feasibility of bringing in other initiatives pioneered by Fraser. For example, The Retreat, an experiential meeting facility that combines a business meeting facility with rejuvenation alternatives and even a “power food” menu to maximize the results from these pow-wow sessions.

Fraser is also the first serviced residence chain to set up a “Kids’ Club” for its younger residents, as well as to introduce the Fraser Spa with capsule spa treatments for the busy executives.

“These are efforts to meet the unique needs of our guests,” said Mr Silva. And the future holds more promise as Fraser explores the possibility of another property in Seoul as part of its expansion plan to manage more than 3,000 apartment units in 14 gateway cities by 2006.