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
Intel slides after tepid forecast spurs fears about comeback
Microsoft beats estimates as AI drives revenue
Crypto firm sues SEC to fend off oversight of Ethereum
Snap beats first-quarter expectations, shares jump 25%
Google parent announces first-ever dividend; beats on sales, profit; shares soar
Baltimore’s trapped ships start leaving as new channel opens