Minor invests in the Sri Lanka holidays market
Proving that the market of Sri Lanka holidays is looking more attractive than ever after the end of the country's civil war in the north, the hospatility brand Minor International has announced a series of key investments in the Sri Lanka holidays market.
Thai hospitality brand Minor International has secured a key investment in the booming Sri Lanka holidays market with the acquisition of local resort owner and developer, Cyprea Lanka.
With some of Cyprea Lanka Pvt.'s assets including the Kani Lanka Resort & Spa, Kalutara, and an adjacent plot of land primed for the development of the Anantara brand, the total acquisition and development investment by Minor represents an 80.1 % stake at an estimated value of US$22 million.
Taking a firm step to get a good share of the blossoming market of Sri Lanka holidays, Serendib Hotels, which Minor also acquired in 2007, will buy the remaining stake and it is expected that Minor will oversee the operation of the Kani Lanka Resort & Spa as part of the company’s ever increasing portfolio of global properties.
The venture is also creating an opportunity to introduce an Anantara branded property to the Sri Lanka holidays hospitality industry by developing the adjacent prime beachfront location.
Focusing on the latest and most immediate accquisition from Minor, with the buying of the Kani Lanka Resort & Spa, the group has invested in a top class hotel providing luxury Sri Lanka holidays. Nestling the picturesque confluence of the majestic Kalu Ganga River and vast Indian Ocean along the south west coast of Sri Lanka, Kani Lanka Resort & Spa resides 76km and a 2 ½ hour drive from the International Airport, and 10 minutes from the historical town of Kalutara.
Nearby heritage sites include the world’s only hollow Buddhist shrine and an elegant plantation mansion. The resort itself, originally designed by a French architect, has been re-designed by renowned architect Geoffrey Bawa. Blending colonial charm and authentic Sri Lankan culture with state of the art comforts, 99 superior rooms and 6 suites boast spectacular ocean, river and garden views from private balconies or patios.
William E Heinecke, Chairman and CEO of Minor International expressed his joy over Minor's expansion in the Sri Lanka holidays market, “We are delighted with this new acquisition on many levels. Firstly the investment enriches our foothold in Sri Lanka; a destination which we view as offering immense potential. Moreover the specific location of the pending Anantara property offers a perfect fit with the brand’s promise of immersing story collecting travellers in the world’s most enchanting settings through unique discovery experiences, underpinned by true connoisseurship and luxurious, heartfelt hospitality.”
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