Industry Update
Press Release 2 June 2014

SilverNeedle Hospitality launches new upscale brand Sage Hotel in Australia

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SilverNeedle Hospitality

Singapore-based SilverNeedle Hospitality is launching a new upscale brand Sage Hotel with the first in Brisbane, Australia. Situated in Fortitude Valley, northeast of Brisbane's Central Business District (CBD), the first Sage Hotel will comprise 111 rooms when it is refurbished from two storeys of the heritage building known as TCB.

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The TCB building is a landmark in Fortitude Valley, with a history dating back to 1902,

when it was a department store operated by Irish draper Thomas Charles Beirne. Forwin International Investments acquired the site in 2003. The three-storey building houses about 22 tenants including eateries and boutiques on the first floor, with the remaining storeys leased as offices. Forwin International will convert the office space to Sage Hotel, a modern upscale brand that caters to the business traveller. The hotel is scheduled to open 18 months after the refurbishment is complete.

"At SilverNeedle Hospitality, we recognise there is an important group of business

travellers who desire a stable and uncomplicated life as they conduct their business in unfamiliar cities," said Mr Iqbal Jumabhoy, Managing Director & Group Chief Executive Officer at SilverNeedle Hospitality. "Not only is the Sage Hotel designed to fulfill the needs of this group, it also complements our suite of offerings that includes six other brands. Our intention is to develop the Sage Hotel brand throughout Asia Pacific in the upscale segment."

SageHotel Fortitude Valley is SilverNeedle

Hospitality's second commitment to Brisbane, following NEXT Hotel in the CBD which will open later this year. SilverNeedle Hospitality also operates the SilverNeedle Collection of boutique hotels, Chifley, Country Comfort, Australis and Sundowner brands.

The brand promise of SageHotels, The

Complex Made Simple, the Simple Made Special, focuses on the guests' desire for simplicity. Its typical guests comprise the small business owner or entrepreneur, or a senior manager or family breadwinner.

"Every stay at our Sage Hotel will bear the hallmarks of simplicity, familiarity for these

guests who want to feel at home, while at the same time offering our guests uncompromised quality," said Mr Jumabhoy.

A Sage Hotel will be located in primary and secondary urban cities in Asia Pacific in CBD

and CBD fringe areas near primary transportation hubs.

"We are excited that our heritage building will house the new Sage Hotel brand," said Mr

Gavin Tseng at Forwin International. "As owners of TCB, an iconic building with a rich history, we align ourselves with brands that have strong prospects for long-term business growth."
Related Brand

Sage Hotels

Guests at Sage Hotel will enjoy the Fair Value Promise of competitive room rates, free Wi-Fi and free local calls. Mini bar items will be priced at 30% above local convenience stores, and laundry services priced at just 20% above street pricing.
brand information
Other Brands operated by Next Story Group
Chifley Hotels
Country Comfort
Ink Hotels
Kafnu
NEXT Hotels
Sundowner Inns

About Next Story Group

Next Story Group designs, manages and markets hotels and blended lifestyle space. Seeing each real estate asset as a living ecosystem, the group optimises each space's design and performance based on customer demand. With experienced leaders in design, marketing, operations and emerging technologies, Next Story Group adopts a holistic approach to each space it manages, futureproofing its owners' investments. The group's brands include Next Hotels & Resorts, Kafnu, Brand Karma and Virsa. For more information:www.nextstory.com

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