Full Board

Tsunami ravished beach resorts Eden Hotel and Riverina Hotels collect Rs. 200 million from insurance. Tsunami ravished beach resorts Eden Hotel and Riverina Hotels collect Rs. 200 million from insurance. The hotels managing company, the Confifi Group on Thursday told shareholders that negotiations with the insurers had been completed with the parties agreeing to pay Rs. 97.5 million for Riverina and Rs. 93 million for Eden Hotels. The claims have been settled.

The two Confifi Group hotels were damaged in the December tsunami that killed over 30,000 coast-dwellers and travelers and displaced over half a million living by the sea.

The five star Eden Hotel returned to partial services in February, with sections of its ground floors closed off for post-tsunami repairs.

The Group told shareholders that repairs at the Riverina Hotels, which suffered extensive damages by the tsunami, has already begun, with the beach-side four-star resort retuning to service by August 2005.

-LBO Newsdesk: lboemail@vanguardlk.com