SilverNeedle not eyeing Singapore hotel deals now
CEO Jumabhoy wonders whether costs here will match yields; focuses on NZ and Australia
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Singapore
SINGAPORE-BASED SilverNeedle Hospitality, which recently opened the first Next Hotel in Brisbane and is adding more properties in Thailand and Sri Lanka, is less keen on Singapore hotel deals, however.
In a recent interview, CEO Iqbal Jumabhoy said that while he wouldn't rule out building or buying hotels in Singapore, higher costs and lower yields compared to the other Asia-Pacific regions it is exploring make the republic a less compelling option.
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