SilverNeedle Hospitality eyes Lanka
SilverNeedle Hospitality, an integrated management, development and
investment hospitality company, launched in Asia last week.
Founded by the Nadathur Group along with a few industry veterans,
SilverNeedle is rolling out a portfolio of hotels focused on mid-upper
scale properties in key destinations across Asia including Sri Lanka.
The company started its growth plans with the acquisition of
Australia-based Tourist 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
This acquisition gives us a 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 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.