Berthold & Kotthoff brokers acquisition of Galle Fort Hotel
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.