Interview with Guus Bakker, Frasers Hospitality

"We have embarked on a programme of renovations which should be completed this year. Having arrived in Europe in 2002, it is now the end of a first life cycle and the start of a new one for our establishments: the transformation of the Frasers Suites in Glasgow is complete, and those of Canary Wharf and Queensgate in London and the Champs Elysées in Paris will be finished in the summer. Then it will be the turn of the Frasers Suites Harmonie residences in Paris La Défense and the Kensington residence, the flagship of our group in London. All these residences will offer WiFi and a high-quality internet connection. This is essential, as it can make the difference between a free evening enjoying the city and a night struggling to send a file.

In Asia, we launched a new brand this year, Capri by Frasers. With its 24/24 catering, high-tech connectivity and Playstations installed in the launderettes, this young brand is a little like the Modena, the very contemporary residences we launched in China in 2009. After Singapore, Capri by Frasers has opened in Ho Chi Minh and will soon be opening in Kuala Lumpur. But this brand is also a new string to our bow for expanding in Europe, particularly in secondary cities like Lyon and Marseille.

In Europe, we have projects in Munich and Frankfurt (editor's note: a Capri by Frasers is expected there in 2014) and are looking at Berlin and Hamburg. In addition to the Middle East, where we have several projects underway, we are also looking at opportunities in Africa. In Africa and the Middle East, hotel residences make sense, because business travellers don't just go there for two days. What's more, while companies in Europe are tightening their budgets, they are not hesitating to offer their staff a flat for six months, as part of long-distance projects. There's a real appetite for the residences product among international companies. We have a sales office in New York and Boston, which is regularly contacted by American companies. "Are you present in Luxembourg, Moscow, this or that capital in Central Asia? This is proof of a worldwide need for this type of accommodation. "