SilverNeedle Hospitality eyes Sri Lanka

SilverNeedle Hospitality, an integrated management, development and investment hospitality company was launched in Asia this week. Founded by the Nadathur Group along with a group of prominent industry veterans, SilverNeedle is rolling out a portfolio of hotels focused on mid-upper scale properties in key destinations across Asia. The company started its growth plans with the acquisition of Australia-based Touraust Corporation’s Constellation Hotels business.

The acquisition portfolio includes over 60 hotels in Australia and New Zealand including Chifley, Australis Resorts and Hotels, Country Comfort brands and the Sundowner Motels brands in New Zealand. President of SilverNeedle Hospitality, Bill Black said “With our vision to be a leader in asian hospitality and to be a company with substantial scale, we have started our business with the acquisition of Constellation Hotels.

This acquisition gives 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 launch its portfolio of hotels and resorts through strategic investments, development and management. The portfolio will be focused on the mid-upper scale segment, in key urban and resort destinations across Asia. This recognises an opportunity to capitalise on the rising number of newly affluent, middle-class travellers into and within Asia. Business and leisure travellers 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.