Singapore - Singapore-based Fraser Serviced Residences has been awarded its first management contract to manage the five-star Fisherman's Village Resort in Petchaburi, 40 minutes from Hua Hin, Thailand.

BTN Asia-Pacific understands the company is hoping the three-year contract will pave the way for its entry into the Thai travel market, which it has been eyeing.

It is currently negotiating management contracts for serviced residences with property owners in prime areas of Bangkok's central business district.

Fraser also has a technical contract for a project in Sydney, Australia, which is expected to open next year.