QIC Global Real Estate (QIC GRE) signs its first Hotel deal with SilverNeedle Group, to bring  a new iteration of the successful NEXT Hotels portfolio to Melbourne as part of its planned development at 80 Collins Street.

The deal signed with QIC is a major coup for SilverNeedle Group.  The development value is approximately $110 million and adds to the pipeline of new builds by SilverNeedle Group.

QIC's proposed development at 80 Collins Street will deliver 45,000 square meters of commercial space, 9,000 square meters of retail space and aims to create a vibrant destination that embraces the history and character of the area while incorporating world-class modern features.

The proposed mixed-use new precinct will further transform the integrated development project into a cohesive precinct that will continue to elevate the 'Paris end' of Collins Street as one of the most sought after commercial locations in Australia.

Managing Director of SilverNeedle Group, Cameron Stewart, welcomed the partnership with QIC.

“QIC is a visionary partner to help us drive the innovative NEXT hotel brand across Australia, and connect with customers that are looking for more than just another hotel,” said Stewart.

“SilverNeedle is taking a fresh approach in the hospitality business, our ace card is our agility to bring change with immediacy.”

A key focus of NEXT hotels is providing guests with the latest from the digital world, Stewart explains, with the aim of being leaders in mobile innovation.

“A great example is our mobile app, an evolution of an already world-class system that simplifies the check-in process for time poor guests on the go.  There are millions of smartphone users only clicks away from completing check-in, unlocking rooms via keyless entry, selecting room preference, and accessing self-service kiosks for check-in. Guests at NEXT are encouraged not to queue to check-out, we see this as a superfluous process.

“Innovations like these provide huge benefits by giving our customers invaluable choice, speed and flexibility.”

NEXT Hotel Melbourne will see 300 hotel keys added to the city, reflecting economic and tourism confidence coupled with stable investment opportunities in Australia.

This latest announcement adds to the recent portfolio deals signed in the last 6 months at approximately $250 million, adding just over 766 room keys to its new build hotels. SilverNeedle portfolio now includes Sage Hotel West Perth opening in Mid-May 2016, Sage Hotel Fortitude Valley Brisbane and Sage Resort Darwin, with construction commencement early 2016.

For further information and interviews please contact:

Georgina Williams

Director Marketing and Communications ANZ

SilverNeedle® Hospitality Australia Pty Ltd

D +61 2 8962 2418 |  M +61 410 486 639

Georgina.williams@snhgroup.com

About SilverNeedle® Hospitality:

SilverNeedle Hospitality Group is the parent company of NEXT, SAGE, Chifley and Country Comfort, Australis and Sundowner.

SilverNeedle® Hospitality is an integrated hospitality management, franchising, investment, and development headquartered in Singapore and founded by the Nadathur Group.  By creating innovative brands based upon customer demand, SilverNeedle aims to be a leading provider of hotels & resorts across ANZ, S.Asia, and S.E.Asia. The estate currently has 54 properties under management with over 3,520 keys.

The Nadathur Group is a family-run investment firm established by Nadathur S. Raghavan, co-founder of NASDAQ-listed Infosys Technologies. Besides managing its investments in a portfolio of financial assets, the Nadathur Group has seeded over 25 start-ups, funded an investment bank and made long-term investments in philanthropic ventures.  For more information, please visit www.snhgroup.com