THE NEWLY-launched integrated management, development and investment hospitality company, Singapore-based SilverNeedle Hospitality, has acquired Australian-based Constellation Hotels.
SilverNeedle was established by the Nadathur Group, an investment firm owned by Nadathur Raghavan, co-founder of Infosys Technologies, along with a group of industry veterans.
The acquired business comprises over 60 hotels in Australia and New Zealand that includes Chifley, Australis Resorts and Hotels, Country Comfort brands and the Sundowner Motels brands in New Zealand.
Bill Black, president of SilverNeedle Hospitality, said: “With our vision to be a leader in Asian Hospitality and to be a company with substantial scale, we have kickstarted 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.”
The company will focus on the mid-upper scale segment in Asia, particularly China, Vietnam, Thailand, Indonesia, India and Sri Lanka, with plans to acquire over 10,000 rooms in five years. Its flagship brand will be called Next Hotels and Resorts, with the hotels catering to business travellers and resorts to families.
