Frasers Offers Hotel Rooms As Resi Rentals

Frasers Hospitality will offer weekly rents in line with the traditional rental market on leases of three to a maximum of 12 months


Key points:

  • Converted some of its Australian hotel rooms to traditional residential rentals

  • Leases of three to 12 months

  • Sydney start from $600/wk, in Melbourne from $325/wk


Frasers has converted some of its Australian hotel rooms to traditional residential rentals in an effort to try fill a large number of vacant rooms.

The fully furnished serviced apartments are spread across four hotels in Sydney, Melbourne, Brisbane and Perth. Frasers Hospitality will offer weekly rents in line with the traditional rental market on leases of three to a maximum of 12 months. Weekly rates in Sydney start from $600, in Melbourne from $325, in Brisbane from $310 and in Perth from $500. “Our leasing strategy is tailored for each property and market, but as a starting point we’re looking to make 20-30 per cent of the suites in each property available for longer stays," said Frasers Hospitality's Matt Rubie. "In Melbourne this target has already been exceeded, so we’ll extend this offer to more rooms to meet the demand. In Sydney, we have secured tenants for around 10 rooms and enquiry levels from potential tenants are steady for the Brisbane and Perth properties." Mr Rubie said Frasers Suites Perth had an 80 per cent occupancy rate in April, but other properties had been harder hit by the collapse in domestic business travellers and tourists.

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