SilverNeedle Hospitality is adding a second Sage Hotel in Australia, this time in Perth.
The news comes a month after SilverNeedle Hospitality announced the launch of the upscale Sage Hotel brand, with the first in Brisbane.
“Sage Hotels cater to an important group of business travellers who desire a stable and uncomplicated life as they conduct their business in unfamiliar cities; a vision that is fast gaining traction with owners,” said Iqbal Jumabhoy, Managing Director and Group Chief Executive Officer at SilverNeedle Hospitality.
“This agreement also expands our footprint in Western Australia, where we are confident of the market’s fundamentals.”
Situated in West Perth near the Central Business District, the second Sage Hotel will comprise 101 rooms as part of a two-building site that will include a modern boutique hotel adjoining a renovated heritage building.
Australian Development Capital, a private fund manager that specializes in acquiring and managing property investment and development assets, bought the heritage building and the adjoining apartments in 2013. It will build the new hotel and renovate the heritage building. The heritage building, which used to house the former Julio’s Restaurant, will consist of a restaurant, meeting rooms and several heritage rooms. The hotel is scheduled to open in March 2016, when construction is complete.
“When we bought the property, we had the vision of creating a modern hotel that will incorporate elements of the heritage building to provide a unique accommodation offering for the inner city market,” said Adam Zorzi, Executive Director at Australian Development Capital. “We found the perfect partner in SilverNeedle Hospitality and are confident the Sage Hotels brand will provide the best blend of the modernity and heritage for the property.”