SilverNeedle aiming for 100 properties by 2016
Franchising model introduced, tapping public market a possibility in future
TAPPING the capital or public markets would not be out of the question in the future for Singapore-based SilverNeedle Hospitality, which has a goal of having 100 properties in its stable by 2016.
CEO Iqbal Jumabhoy said this on the sidelines of the company's launch of a new franchising business model for one of its hotel brands yesterday.
"Our business is a capital-intensive business, so at a point in time we will obviously be looking for additional capital," he said.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
China’s Bank of Communications Q1 profit rises 1.44%
Huawei’s smart car tech offers automakers route to China sales
Electrolux Q1 loss nearly triples on weak demand but beats expectations
DigitalBridge-backed Vantage said to weigh Hong Kong data centres sale
Vietnam delays launch of new stock trading system
Tesla’s plan for affordable cars takes page from Detroit rivals