Hemas-Thai based Minor group in US $ 70mn hotel project

10 Jun 2013 - {{hitsCtrl.values.hits}}

Sri Lanka's Hemas Holdings PLC, a family run conglomerate with a strong presence in FMCG and healthcare sectors has embarked on to develop 3 new hotel properties in partnership with Thai based Minor Group, a top official of the firm said.

Hemas Holdigns Chief Executive Husein Esufally told shareholders that the 3 properties located in Southern Sri Lanka—Tangalle, Kalutara and Ambalangoda— will be developed at a cost of US $ 70 million and branded under Avani and Anantara brands of Minor Group.

Hemas’ portfolio of hotel properties includes Club Hotel Dolphin,Hotel Sigiriya, Avani Bentota Resort and Spa and Avani Kalutara Resort and has a room strength of 410. Hemas is the only Sri Lankan hotel chain that manages an international brand.

Hemas’ leisure sector generated revenue of Rs.1.84 billion in the FY12/13 and a net profit of Rs.233 million, up from Rs.59 million in FY11/12.

Stock

Hemas-Thai based Minor group in US $ 70mn hotel project

Most Popular Articles

Middle east tensions weigh on CSE as selling pressure intensifies

Market surges on optimism over potential Iran–USA peace deal

Earnings optimism lifts CSE as ASPI gains over 111 points

Restoring health and sanitation to rural schools

Global tariffs and geopolitical shockwaves trigger broad market selloff on CSE

Latest News

Japan’s samurai spirit

CPC to reduce fuel import bill to USD 198 million in July

NIC mandatory for 2026 G.C.E. (O/L) exam applications: Examinations Department

Three-wheeler operators expected Saradiel-style rule from Government

Sri Lanka Schools Dialog Under-19 League Rugby Tournament 2026