The acquisition of a leading Australian hotel company, Constellation Hotels, marks the first step of the SilverNeedle Hospitality growth and expansion plans.
SilverNeedle Hospitality is an integrated management, development and investment company focusing on mid-upper scale properties in key destinations across Asia. This recognizes an opportunity to capitalize on the rising number of newly affluent, middle-class travelers.
The company initiated its growth and expansion plan with the acquisition of Australia-based Touraust Corporation’s Constellation Hotels business. The acquisition portfolio includes over 60 hotels, resorts and apartment in Australia and New Zealand under the Grand Chifley Hotels, Chifley Hotels, Australis Hotels and Resorts, Country Comfort Hotels and Motels and Sundowner Motor Inns brands.
Says Bill Black, President of SilverNeedle Hospitality,
“Having a vision to be a leader in Asian Hospitality with substantial scale, the opportunity to acquire Constellation Hotels has given us a great platform to launch our own new brand, Next Hotels and Resorts. Constellation with its operating expertise, know-how and insights gained in the mature tourism market of Australia will be of great benefit to our new company.”
SilverNeedle Hospitality will be launching a new portfolio of hotels and resorts through strategic investment, development and management, focusing on mid-upper scale properties in key destinations across Asia. This recognizes an opportunity to capitalize on the rising number of newly affluent, middle-class travelers. Business and leisure travelers will soon be able to look forward to unique levels of Asian hospitality in key destinations in China, Vietnam, Thailand, Indonesia, India and Sri Lanka.
SilverNeedle Hospitality’s flagship brand will be called NEXT Hotels and Resorts. NEXT Hotels are tailored for the modern ‘Road Warrior’ and purposely designed to optimize the guest’s use of time on their business travel while NEXT Resorts will be a more family-centric offering for those travelers who seek out a time to relax as well as enjoy authentic cultural experiences. NEXT Hotels and Resorts are designed to deliver the next generation of Asian hospitality; that guarantee an effortless stay, all the time, anytime, every time.
SilverNeedle Hospitality will continue to add to their current portfolio by searching out hotels that fit its growth and expansion plans of over 10,000 rooms by 2015. The group plans to invest in sub-optimal hotel real estate, in order to reposition the property by improving the operational efficiency through contemporary hotel management practices. SilverNeedle Hospitality has already set up its headquarters in Singapore as well as regional offices in Bangkok, Mumbai and Sydney and plans to open an office in China in early 2012.
About SilverNeedle Hospitality
SilverNeedle Hospitality is a solely owned subsidy of Nadathur Group, which is a family-backed private investment firm of N.S.Raghavan, co-founder Infosys Technologies, a US$35 billion market cap NASDAQ listed company (INFY). The Nadathur Group manages around US$750 million in capital and has invested in over 25 start-ups in a range of industries from life sciences, IT, hospitality and engineering services, funded an investment bank, and has made long‐term investments in philanthropic and social ventures.
