FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com


Join the forum, it's quick and easy

FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com
FINANCIAL CHRONICLE™
Would you like to react to this message? Create an account in a few clicks or log in to continue.
FINANCIAL CHRONICLE™

Encyclopedia of Latest news, reviews, discussions and analysis of stock market and investment opportunities in Sri Lanka

LISTED COMPANIES

Submit Post


ADVERTISE
Poll

EXCHANGE RATE PREDICTION: 2022

 
 
 
 

View results

ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post


CONATCT US


Send your suggestions and comments

* - required fields

Read FINANCIAL CHRONICLE™ Disclaimer



Latest topics

» In STOCK MARKET despite all odds, there is always hope. Never ever give in nor give up.
by atuts Today at 2:14 pm

» The war in Ukraine is no longer shocking the wheat market
by ResearchMan Yesterday at 2:10 pm

» India raises import tax on gold to support rupee and amid trade deficit
by ResearchMan Yesterday at 2:09 pm

» When will supply chain disruptions ease?
by ResearchMan Yesterday at 9:57 am

» KHL Massive forex gains close to 6 billions
by rajini Fri Jul 01, 2022 10:54 pm

» Tourism in Sri Lanka: One step forward, two steps back
by rajini Fri Jul 01, 2022 9:21 pm

» Expolanka to continue its winning streak
by samaritan Fri Jul 01, 2022 4:12 pm

» Govt gets its priorities wrong
by samaritan Fri Jul 01, 2022 10:25 am

» Ambassador assures U.S. support to Sri Lanka to find solutions to economic issues
by samaritan Fri Jul 01, 2022 10:16 am

» IMF-Sri Lanka bailout talks end without a deal
by ChooBoy Fri Jul 01, 2022 9:16 am

» Sri Lanka Breaks Into Hyperinflation Zone Amid Dollar Crunch
by CHRONICLE™ Fri Jul 01, 2022 8:11 am

» Sri Lanka needs to do more on debt restructuring before a bailout package is finalised, says IMF
by CHRONICLE™ Fri Jul 01, 2022 8:06 am

» Global COVID cases rise as BA.4 and BA.5 expand
by samaritan Fri Jul 01, 2022 7:04 am

» POSITIVES & TARGETS BY IMTIAZ BUHARDEEN
by Gowri123 Wed Jun 29, 2022 4:38 pm

» We’re seeing a shift toward international and value stocks, says Schwab’s Kleintop
by target1 Wed Jun 29, 2022 2:40 am

» Wall Street stumbles as consumer pessimism stokes growth fears
by target1 Wed Jun 29, 2022 2:34 am

» Free Market Capitalism vs. Crony Capitalism
by target1 Wed Jun 29, 2022 2:30 am

» Sri Lankan corporations reap large profits as workers and rural toilers face poverty and starvation
by CHRONICLE™ Tue Jun 28, 2022 6:37 pm

» අද රාත්‍රියෙන් පසු, යක්ෂයාගේ හෝරාව ඇරඹේ!
by God Father Tue Jun 28, 2022 6:13 pm

» Derana 360 with Minister Dhammika Perera
by samaritan Tue Jun 28, 2022 1:07 pm

EXPERT CHRONICLE™

MARKET CHAT


CHRONICLE™ ANALYTICS


ECONOMIC CHRONICLE

GROSS DOMESTIC PRODUCT (GDP)


CHRONICLE™ YouTube

LATEST TWEETS

You are not connected. Please login or register

FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Hilton likely to manage LOLC’s 500-room resort

Hilton likely to manage LOLC’s 500-room resort

Go down  Message [Page 1 of 1]

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics

LOLC Leisure has almost finalised the international hotel chain operator to manage its planned new Rs 6.5 billion, 500- room resort hotel on a 20-acre beach stretch in the south coast, sources close to the company said.

They said the Hilton chain will most likely manage this new hotel to be constructed in the area which housed two of the Confifi hotels. LOLC bought these properties from the Furkhan family nearly two years ago and a hotel previously owned by Jetwing and Hayleys. The three Confifi hotels are Riverina, Club Palm Garden and the former Jetwing and Hayleys’ hotel, Tropical Villas. They said that negotiations are still on for a partner for Eden, also a former Confifi hotel situated less than half a mile away.

“We are negotiating with the Hilton chain to manage this new hotel we plan to build,” a source told the Business Times, noting that LOLC is working on a letter of understanding with them. He noted that many international brands were interested, but LOLC had felt that Hilton is a strong brand. “The three hotels are closed for business for 18 months from May 1, 2011 to complete building the new hotel,” he said. He added that the company is working with the Board of Investment pertaining to the approval process.

The Furkhans sold some of their stakes in related holding companies of the three Confifi hotels – Club Palm Garden (CPG), Riverina Hotel and Eden to a consortium led by LOLC and Browns two years ago. Further firming its position in the country’s famed golden mile, the company bought a 60% stake in Tropical Villas, a beach resort with 50 luxury villas in Beruwela, through LOLC Leisure last year. Early this year the company acquired a 99.9% stake of Dickwella Resort for Rs 1 billion. The source said that LOLC hasn’t finalised plans for this property as yet.

The sources said that LOLC’s resort project ran into some hot water when a local government authority wanted some of the land that the resort was to be built on for a project of their own, but when higher authorities intervened, it had stopped the forced acquisition.
http://www.sundaytimes.lk/120722/business-times/hilton-likely-to-manage-lolcs-500-room-resort-6476.html

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum