GLOBAL UPDATE : DEVELOPMENT
G E R M A N Y
McIntosh says . “ But over the next few years , the real growth in the market is going to be in that midmarket sector .”
SilverNeedle also plans to co-brand some independent properties with a “ by SilverNeedle Hospitality ” white label , which will ultimately comprise approximately 30 % of the portfolio . “ There are great opportunities to provide management services to independently owned properties that — because of location or unique style — would fit into our portfolio ,” Black says .
Bill Bennett , managing director of Phuket , Thailand-based consultancy C9 Hotelworks , says the white label brand makes sense for the Asia Pacific market , which is flush with independent boutiques owned by inexperienced hoteliers . “ You have a lot more domestic hotel investors who are first-time hotel owners , and these guys tend to want to name their own hotels and have that legacy , but they don ’ t want to operate it ,” Bennett says .
Constellation will remain exclusive to Australia and New Zealand , where the portfolio has a strong presence among consumers , and the brands will remain largely unchanged . There are no plans to reflag Constellation properties to Next , although the brand could enter Oceania via new acquisitions .
Growth story SilverNeedle ’ s growth target is 10,000 guestrooms by 2016 , roughly doubling its existing portfolio . It will pursue expansion through joint ventures , development projects and management deals , as well as strategic investment in
“ sub-optimal ” hotels ripe for market repositioning via operational efficiency and modernization . Growth may also come from flipping assets and recycling those funds into attractive new acquisitions .
Markets targeted for expansion include India and China — where Black aims for about a third of SilverNeedle ’ s total portfolio by 2016 — along with Vietnam , Thailand , Indonesia , India and Sri Lanka . “ Because of our roots being in India , we are confident that we will be able to partner with like-minded groups to help grow our brands there quickly ,” Black says . “ China is another issue , where finding the right partners will take more time . However , with the vast Chinese experience within our current development team , we feel that we will have a leg up to kick-start our growth in China beginning [ in early 2012 ].”
SilverNeedle has a joint venture in newly peaceful Sri Lanka with domestic firm Sunshine Holdings to invest , develop and manage five properties . In addition , SilverNeedle has land for development of Next hotels in Bali , Bangalore and Pune , India , plus another Sri Lanka project in the resort city of Galle . “ We have a very healthy pipeline that is based on our five-year plan ,” Black says .
Long term , going public is an option for SilverNeedle , Black says . “ When the time is right and we have established a proven track record of superior performance , we would certainly look at taking it public ,” he says , “ but there is still a long road to travel successfully first .”
„ Collina “
„ Skyline “
„ Solid “
AMBIENTE , Frankfurt 10 . -14.02.2012 1.1 / B31 INTERGASTRA , Stuttgart 11 . -15.02.2012 4 / D11 GULFOOD , Dubai 19 . -22.02.2012 1 / B1-24
“ With the vast Chinese experience within our current development team , we feel that we will have a leg up to kick-start our growth in China beginning [ in early 2012 ].”
– Bill Black , president , SilverNeedle Hospitality www . zieher . com www . facebook . com / ZieherGermany