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 Constellation Hotels.

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.