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.. 
Home
A year after its acquisition of Confifi Hotel Holdings, LOLC Group will soon announce its international hotel chain managing partner within next two weeks, Group Managing Director/CEO Kapila Jayawardena revealed recently.
Market sources outline that the whole 7.3 acres land owned by Confifi’s Club Palm Garden (PALM) alone is now valued at nearly Rs.450,000 per perch, and the existing 140 rooms alone are valued each at nearly Rs.12 million.
Last week Club Palm Garden (PALM) shares which has a total of 7.2 million shares in issue shot up to over Rs.350 per share amidst brokers predicting about a possible rights issue and a private placement of the company prior to the refurbishment of hotels.
Speaking on the three hotel properties of Sri Lanka’s ‘Golden Mile’ at down south Jayawardena said that his group will also revalue the properties soon which have not been revalued so far.
Earlier in May, The LOLC Group said it is planning to refurbish the Club Palm Garden (PALM), Riverina (BHR) and Tropical Villas hotels at a cost of Rs.2.5 billion and three hotels will be closed down for one and half year period, starting May 1, 2011 to refurbish and modernize the properties. After being upgraded, the hotels will be managed by a globally reputed hotel management company and the hotel chain operators will soon be revealed according to Kapila Jayawardena.
In last year May, Lanka Orix Leasing Company (LOLC) bought Confifi Group’s 70% with Browns Investments, in two deals valued at over Rs.900 million, in which LOLC had bought 3.1 million shares or 43.3% Confifi Hotel Holdings (PALM) at Rs.210 where Browns Investments has a 30% stake. Confifi Hotel Holdings (PALM) further owns a 21.8% of Eden Hotel Lanka and 24.06% of Riverina Hotels, both listed firms.It is said that LOLC Leisure which now owns the leisure properties has over 25 acres with neatly 500 rooms of prime beach front land located on one of the best stretches of beach in the 'Golden Mile'.
Link:http://lankabusinessnews.com/11.06.June/028.Palm.html
Market sources outline that the whole 7.3 acres land owned by Confifi’s Club Palm Garden (PALM) alone is now valued at nearly Rs.450,000 per perch, and the existing 140 rooms alone are valued each at nearly Rs.12 million.
Last week Club Palm Garden (PALM) shares which has a total of 7.2 million shares in issue shot up to over Rs.350 per share amidst brokers predicting about a possible rights issue and a private placement of the company prior to the refurbishment of hotels.
Speaking on the three hotel properties of Sri Lanka’s ‘Golden Mile’ at down south Jayawardena said that his group will also revalue the properties soon which have not been revalued so far.
Earlier in May, The LOLC Group said it is planning to refurbish the Club Palm Garden (PALM), Riverina (BHR) and Tropical Villas hotels at a cost of Rs.2.5 billion and three hotels will be closed down for one and half year period, starting May 1, 2011 to refurbish and modernize the properties. After being upgraded, the hotels will be managed by a globally reputed hotel management company and the hotel chain operators will soon be revealed according to Kapila Jayawardena.
In last year May, Lanka Orix Leasing Company (LOLC) bought Confifi Group’s 70% with Browns Investments, in two deals valued at over Rs.900 million, in which LOLC had bought 3.1 million shares or 43.3% Confifi Hotel Holdings (PALM) at Rs.210 where Browns Investments has a 30% stake. Confifi Hotel Holdings (PALM) further owns a 21.8% of Eden Hotel Lanka and 24.06% of Riverina Hotels, both listed firms.It is said that LOLC Leisure which now owns the leisure properties has over 25 acres with neatly 500 rooms of prime beach front land located on one of the best stretches of beach in the 'Golden Mile'.
Link:http://lankabusinessnews.com/11.06.June/028.Palm.html
