Home / / Berthold & Kotthoff brokers acquisition of Galle Fort Hotel

Berthold & Kotthoff brokers acquisition of Galle Fort Hotel


Comments / 1918 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.


Share This Article


COMMENTS

Today's Columnists

Tony Ranasinghe

4 July 2015

the greatest character actor and romantic lover in Sinhala cinema   “Tony as an actor is the best character-based actor not even witnessed in the Indian screen. He has an actor within himself who emerge...


Moral relativism of Maithri presidency

4 July 2015

President Maithripala Sirisena   The American philosopher Eric Hoffer once wrote: “It has often been said that power corrupts. But it is perhaps equally important to realise that weakness, too, corrupts. Power c...


Improving competitiveness should be a top priority for the next Government

3 July 2015

An issue that needs urgent attention is the colossal losses in the State-Owned Enterprises, especially, the top three – CEB, CPC and SriLankan       As a country we have slid from the 6...


Power Quote

3 July 2015

"More bonding, less bonds, no bandits - that's the need of the hour" ...


Columnists More