Silver Needle Hospitality, a part of the Nadathur Group is preparing to launch an international $100 million resort and business hotel chain. The Singapore-headquartered firm, has already acquired properties in Bali in Indonesia, Sri Lanka and Bangalore as per a report by Deepti Chaudhary in Mint.

“We are looking at acquiring a hotel chain in Australia. We are in talks; it’s too early to say anything more about it,” Raghavan said in an interview. The hospitality chain’s core markets will be India, Sri Lanka, Vietnam, Indonesia, Thailand, China and Cambodia, he said.

In addition to developing properties on its own, Silver Needle Hospitality is open to forming joint ventures under which it will hold management control for 15 years. It aims to have 10,000 rooms under management in five years.

The Nadathur Group has over the years quietly built a portfolio worth about $600 million across asset classes and investment life cycles— from angel and venture funds to private equity, public equity and debt. Raghavan has backed 30 start-ups, investing more than $70 million in technology, healthcare and life sciences companies.