Ambeon Group raises stake in Ceylon Hotels Corporation

Ambeon Group increased its stake in Ceylon Hotels Corporation PLC to 10.79 percent, a disclosure to the Colombo Stock Exchange (CSE) showed.

Ambeon Capital PLC acquired an additional 3.95 percent of the hotel company’s ordinary voting shares, paying between Rs. 35.90 and Rs. 36.50 per share.

The move follows a 6.84 percent stake purchase last month, when Ambeon Capital bought 12,310,543 shares for Rs. 320 million.

The investments form part of a broader Ambeon strategy to tap into Sri Lanka’s tourism revival and long-term growth prospects. 

Last month, Ambeon Holdings PLC also acquired a 6.09 percent stake in The Kandy Hotels Company PLC.

According to Ambeon Group Chairman Sujeewa Mudalige the decision to invest into the hospitality sector is a natural extension of the group’s long-term strategy of identifying and investing in high-growth industries. 

“Tourism remains a vital pillar of Sri Lanka’s economy and we see these investments as timely and value-accretive,” he said.