Banyan Tree on Friday picked up its third Sri Lankan leisure venture, taking up a majority holding in John Keells Holdings Beruwala Walk Inn, the parent company of Hotel Swanee.
The global leisure industry giants paid Rs. 47.75 per share for the 69.9% stake and will now work with JKH to refurbish and reposition the seaside venture.rn
rnFollowing the turn of events Banyan Tree is due make a mandatory offer to the remaining shareholders at Rs. 47.75. rn
rnMeanwhile, keeping to its concepts, the Hotels will be added to the Colours of Agsana brand, a concept that promotes cultural heritage sites, and includes the Deer Park Hotel.rn
rnMeanwhile, a company statement on Friday said Banyan Tree and JKH would also look to develop other properties in suitable locations in Sri Lanka.rn
rnldblquote We have sold our stake in Beruwala Walk Inn Limited to facilitate the speedy implementation of Banyan Trees strategy for investment in Sri Lanka. We will work in partnership with Banyan Tree to further enhance