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

Berthold & Kotthoff brokers acquisition of Galle Fort Hotel


Comments / 1944 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

Brexit and the impact on the Sri Lankan economy

1 July 2016

Background The United Kingdom European Union membership referendum, known within the United Kingdom as the EU referendum was held on 23June to decide whether the UK is going to remain within the European Union (EU) or leave the EU. T...


The National List: A system in need of reform

1 July 2016

The original purpose of the National List was to ensure that Sri Lankan Parliament saw the appointment of educated men and women with professional and/or academic experience who may be able to contribute towards the development of sound and consis...


Building capacity at board level in the financial sector should be a top priority

1 July 2016

Given the governance issues in the NBFIs, the regulator’s initiative to assist commercial banks and NBFIs to achieve the highest standards of personal and organisational performance by conducting regular bank directors’ symposiums to e...


BBS threatens an Aluthgama repeat

1 July 2016

The threat of repeating Aluthgama is tantamount to admission of responsibility for the pogrom of Aluthgama on 15 June in 2014 I have been accused by many in comments to my articles that I continue to write about the pogrom in Alu...


Columnists More