SINGAPORE (May 18): Frasers Hospitality, a member of Frasers Property Group, announced today the grand opening of Fraser Suites Dalian, the group’s 16th property to open in China.

This came on the back of four other properties that opened in Changsha, Tianjin and Shenzhen last year.

The 259-unit Frasers Suites Dalian was acquired in 2015 for RMB481.4 million ($100.3 million) and is part of the mixed-use Europark Tower development, which comprises a 100,000 sqm lifestyle shopping mall, designer offices and luxury residential apartments, while also being within walking distance of the Dalian International Conference Centre.

Currently, the group has presence in 11 cities in China and 14 more properties in the pipeline, which will see it enlarging its footprint in cities such as Chengdu, Nanjing, Shanghai and Wuhan, as well as opening in new cities such as Nanchang and Haikou.

The group is expecting to grow its inventory by about 85% over the next few years, expanding to 30 properties across China.

Choe Peng Sum, CEO of Frasers Hospitality says, “We see demand being driven not only by the inbound market but also by domestic travellers in the country. From FY16 to FY17, we observed a growth in the number of room nights booked by Chinese travellers, who account for almost half of all our guests in China. Given the fact that 75% of China’s business travel spend is domestic, we will continue to grow our footprint in first- and second-tier cities.”

Shares in Frasers Property closed 1 cent higher at $1.93 on Friday.