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Posted: 05 Sep 2011 | 6:00 am
Singapore private equity firm Nadathur Fareast including well known Asian hotelier Bill Black who heads up affiliate Silver Needle Hospitality have taken over Australia's Constellation Hotel Group.
Constellation has over 60 properties in Australia and New Zealand with brands including Chifley, Australis, Country Comfort and Sundowner.
Nadathur is reportedly set to fund a fast paced growth model into an international hotel chain under its hospitality arm Silver Needle.
Veteran hotelier Black sold over his Bangkok based Ativa Hospitality Group to the Singapore fund which is being merged into the larger entity.
Recently the group has been gearing up its corporate office in Singapore with a number of high profile hotel industry professionals.
Nadathur was established by one of the co-founders of the global technology firm Infosys N.S. Raghavan who is based in Bangalore, India.
Silver Needle is expected to announce other acquisition in Bali, India and Sri Lanka as part of its expansion. A hotel brand strategy is reportedly in the works as well.
Bill Black is a hospitality icon in Thailand after a long stint at Bangkok's Regent which eventually became the Four Seasons. He is also the owners representative of the Indigo Peal and Trisara Hotels. Recently he's been in Phuket working on the upgrading of Kata's boutique Boathouse property which was bought earlier this year by Trisara's owners - Three Dolphins.
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A recent Channel News Asia television segment Boomtown Asia checked into the island's environmental, and sustainable tourism sectors.
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