Exclusive by James Wilkinson
SilverNeedle is set to introduce a new upper-midscale brand as the company continues to see significant development growth across Australia.
Speaking exclusively to HM, SilverNeedle’s Area Vice President – Business Development, Tushar Raniga, said the new brand was on the back of demand from owners and investors.
“We are in the midst of designing a brand (upper-midscale) product introduced very soon to Australia,” he said.
“Upper Midscale is certainly finding its place in key locations… Mixed use will add to the overall value and make these types of deals really stack up at the asset level.”
The news comes as SilverNeedle continues to expand its Next and Sage brands across Australia in ket cities.
“SilverNeedle signed development deals in the last 6 months’ worth approximately AUD$250 million, adding just over 766 room keys to its new build hotels,” he said.
That included a new Next hotel for Melbourne, announced a few weeks ago, which will see the brand continue its expansion following a successful debut in Brisbane.
“We are focussing on our gaps in the network, being Sydney, Auckland and Gold Coast,” Raniga said. “We also think there’s more that can be done in Melbourne.
“The Gold Coast, Hobart, Canberra and Cairns are really bouncing back fast and are coming off the bottom… so they will interesting markets to keep an eye on in the next three-year cycle,” he told HM.
Raniga also revealed to HM the company aims to bring its luxury SilverNeedle Collection Brand to Australia, following “successes in South East Asia for offering one of a kind, localised experiences”.