Frasers Hospitality, the hospitality and lodging business unit of Frasers Property, has unveiled plans to invest $140 million in asset enhancement initiatives (AEIs) across four gateway-city properties in Kuala Lumpur, London, Melbourne and Singapore.
According to the group, the AEI programme is set to involve the repositioning of high-quality hospitality assets with “strong long-term fundamentals”, as they seek to capture evolving demand shifts and sustain value through proactive asset management.
“Our asset enhancement strategy reflects disciplined capital stewardship and long-term conviction in gateway cities with strong underlying fundamentals,” says Jason Leong, head of investment and asset management of Frasers Hospitality. “We actively curate and reposition our portfolio to capture evolving demand patterns, strengthen rate positioning and enhance operating leverage.”
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Under the programme, the former Park International Hotel in Kensington, London, will be repositioned as Capri By Fraser, marking the global debut of a refreshed brand concept for Capri by Fraser.
The property, which has been closed since October 2025, is undergoing refurbishment and will reopen in February 2027 under the new branding.
Located along Cromwell Road in the Kensington district, the property comprises seven restored Victorian buildings spanning more than 7,000 sq m (75,347 sq ft). Upon completion, the 180-key repositioned hotel will offer flexible accommodation formats and social spaces.
The full-scale refurbishment will include a complete mechanical, electrical and plumbing (MEP) upgrade to improve environmental performance and raise the property’s sustainability rating under the BREEAM framework. Through internal layout optimisation, the hotel’s key count will increase by nine rooms within the existing property.
In Melbourne, the group will undertake the refurbishment of Novotel Melbourne on Collins, with works scheduled for phased completion by June 2027.
The enhancement is expected to focus on space optimisation and alignment with the global brand standards of Novotel.
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Following a review of existing layouts, the hotel will add 72 additional keys within its current structure. The refurbishment will also involve resizing selected room categories to improve market segmentation and rate architecture.
Frasers Hospitality says the increase in room inventory is expected to support higher revenue per available room (RevPAR), improve operating margins and enhance the asset’s long-term valuation.
Meanwhile, The Westin Kuala Lumpur will undergo a phased refurbishment programme scheduled for completion by July 2027. This will include enhancements to guest rooms, the lobby and all-day dining venues, along with a full MEP upgrade aimed at improving operational efficiency and environmental performance.
The enhancement programme aims to elevate the hotel’s sustainability performance beyond its current GreenRE Gold certification, while supporting long-term cost-optimisation.
In Singapore, the group will also spearhead the repositioning of Frasers House, a Luxury Collection Hotel, Singapore, which was rebranded on Jan 1 this year.
The heritage property will undergo a phased transformation scheduled for completion by December 2027. The repositioning aims to strengthen the asset’s position within Singapore’s competitive luxury hospitality segment while preserving its architectural heritage, adds Frasers Hospitality.
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The enhancement will include upgrades to guest rooms, the lobby, F&B outlets and meeting facilities, together with a comprehensive MEP overhaul to improve operational resilience. The hotel will remain operational throughout the programme.
Frasers Hospitality says the AEIs across the four assets are aligned with structural trends shaping global hospitality demand. These include rising demand for experiential and design-led hospitality environments, stronger institutional focus on sustainability, and operational resilience.
These initiatives are expected to support RevPAR growth, strengthen asset liquidity and reinforce the long-term performance of the group’s hospitality portfolio.