Singapore's SilverNeedle Buy Australian Hotel
SilverNeedle which is part of the Nadathur Group has acquired the historic Chifley at Lennons Hotel in Brisbane Australia.
Reportedly the transaction is valued at $57 million.
The group has announced plans for a $35 million upgrade and expansion from the current 154 rooms up to 200 keys.
The property will roll out of SilverNeedle's four star Next brand that is the core focus of the hospitality group.