It is this structural shift that Frasers Hospitality is looking to tap on. On Jan 22, the hospitality operator announced the launch of Modena by Fraser Shenzhen. The 325-room premium rental apartment in Shenzhen’s Luohu district marked the Modena by Fraser brand’s flagship entry into the sector in China.
Changing lifestyles means more young professionals prefer to ‘live for the now’ – eschewing traditional milestones like marriage and home purchases. Frasers Hospitality hopes to capture this catchment of home-renters.
For previous generations, owning a home was almost an unquestioned milestone. For today’s young professionals, that assumption is increasingly under strain. In most developed cities, rising property prices, coupled with a broader range of investment options and shifting life priorities, have prompted a growing number to step back from the pursuit of home ownership and instead opt to rent for the longer term.
