Comments /1999 Views / Tuesday, 13 December 2011 00:25
Berthold & Kotthoff Associates recently announced that the company has successfully brokered the acquisition of 100 percent of the issued capital of the historic Galle Fort Hotel in Sri Lanka.
The buyer, Colombo Fort Hotels, a subsidiary of publicly listed group Lankem Ceylon PLC, purchased full control of the hotel for a total consideration of US$ 7.0 million (Rs 772 million).
“We are very pleased to have been instrumental in the execution of this acquisition. Lankem Ceylon PLC and its subsidiaries are valued partners to us and we look forward to further assisting the group in expanding their hotel division,” Berthold & Kotthoff’s Managing Partner Sahan Kulathunga noted.
Galle Fort Hotel is an award winning boutique hotel in the UNESCO World Heritage Site of Galle Fort in
Southern Sri Lanka. It is the winner of ‘Sri Lanka’s Leading Boutique Hotel’ Award in the 2010 World Travel Awards and the 2007 UNESCO Asia Pacific Award of Distinction for Heritage Conservation, the highest award ever given to the country. It has an international reputation for its minimalist and heritage inspired design, boutique service and its food. Designed by Channa Daswatte, it is featured in numerous design books and magazines as an iconic Sri Lankan hotel and is the benchmark for the conservation and adaptation of Galle Fort buildings.
Lankem Ceylon PLC is a Sri Lanka-based company whose principal activity is manufacturing of chemicals, paints and consumer products. The Company operates with seven business segments: chemicals, consumer products, hardware, construction, hotels, plantations, and agriculture. As of March 31, 2011, the Company had 17 subsidiaries, including Lankem Developments PLC, Sigiriya Village Hotels PLC, Marawila Resorts PLC, Colombo Fort Hotels Ltd. and Lankem Plantation Holdings Ltd.
Berthold & Kotthoff Associates Pvt Ltd is an investment advisory, property brokerage and project development consultancy firm with offices in Male’, Maldives and Colombo, Sri Lanka. Our executive leadership and senior managers are armed with decades of experience in hospitality management, hotel development, finance and investment advisory and develop client relationships based on quality service, reliability, transparency and trust.
18 August 2017
How did some nations, like a Japan, China, United Stated, become wealthy and powerful, while others remain stuck in poverty? And why do some of those powers, from ancient Rome to the modern Soviet Union, prosper for periods and then collapse? Pol...
18 August 2017
I am amazed – and amused – by the spate of “ministerial responses” to Ravi’s exit last week. The Prime Minister has promised to expedite the backlog of anticorruption cases his administration appears to have shelved f...
18 August 2017
Home truths Organisations and their employees takerisks and also managerisksevery day. Of course, it is a part of the business and the service delivery operations. However, often, the management of risks is confined...
17 August 2017
Last week, the Yahapalana Government, which came on the promise of good governance and weeding out corruption, had its first blow, when a senior minister and deputy leader of the party had to resign over allegations of corruption. Whils...