Police and paramedics were called to a hotel on North East Road in Klemzig just after 9.40pm yesterday to reports of a stabbing.
Officers say a 21-year-old Seacombe Gardens man was approached by a couple of men at a nearby business and was assaulted.
He ran to the hotel for assistance and the two suspects fled in a car.
The man was taken to hospital in a critical condition but is now stable.
Anyone with information or CCTV is urged to contact police.