Tea centred KDU Group owns the hotel
The Hilton Group last week announced the commissioning of a new 78-room modern resort at Weerawila near Hambantota that it will be managing.
The locally owned property, Double Tree by Hilton Weerawila Rajawarna Resort, is a spanking new three-story modern resort in Weerawila owned by KDU Adventures (Private) Limited. It joins Hilton Colombo and Hilton Colombo Residences as the third hotel to be managed by Hilton in Sri Lanka.
The KDU Group headed by Mr Saman Upasena is described as one of the most successful family owned conglomerates here comprising 15 thriving subsidiaries, including tea factories, hospitality, exports, real estate, petroleum and a hydro power plant.
The tea industry lies at the core of the group which is now a leading tea manufacturer and exporter, with some of the largest cutting-edge factories in Sri Lanka.
Hilton said that six more resort properties here belonging to the Melwa (Steel) Group which it will manage is in the pipeline.
It said the Weerawila resort is located amongst lush bird sanctuaries and in the midst of three of Asia’s most visited wildlife parks. It will include “an exquisite ballroom, nature-inspired meeting spaces, stunning restaurants and bars” and make it a “natural choice for business and leisure travelers alike.
“We are thrilled to launch our first DoubleTree by Hilton resort in Sri Lanka with the opening of this stunning property which joins our Hilton portfolio in the country. The unique features of the resort, coupled with its location in the heart of Weerawila, makes it a prime choice for domestic and international travelers alike. I am confident DoubleTree by Hilton Weerawila Rajawarna Resort will be top of mind for those who are looking for an idyllic getaway while seeking the comfort of a well-recognized hotel brand that consistently delivers service that is authentic, reliable and straight from the heart,” said Paul Hutton, Vice President Operations South East Asia for Hilton.
The resort is located 25 kilometers from Mattala Rajapakse International Airport – a convenient 28-minute drive away – and just over a half hour drive from Hambantota Port district and is also uniquely situated within the Weerawila Bird Sanctuary which is home to over 400 species of birds and just minutes away from popular tourist attractions such as Kataragama Sacred City, Bundala and Yala National Parks.
Hilton said “DoubleTree by Hilton” is one of their fastest growing brands with a presence of more than 600 upscale hotels across 47 countries.
“Over the past decade, the brand has experienced exponential growth, close to quadrupling in size to accommodate the world’s thriving economic and business centers and growing tourism industries,” said Shawn McAteer, global brand head, DoubleTree by Hilton. “We are delighted to welcome this great new addition to our portfolio which is ideal for travelers seeking an unrivaled retreat underscored by superior service and hospitality.”
Galadari Colombo awarded ‘SLIM People’s Hotel Brand of the Year 2021’
The Galadari Colombo was given a thumbs up from the people as the People’s Hotel Brand of the Year for the second time running at the recently concluded SLIM (Sri Lanka Institute of Marketing) People’s Awards 2021.
The uniqueness of the SLIM People’s Awards is the fact that it is awarded by the public which shows the popular choice of the Sri Lankan people.
This is the 15th successful running of the much-anticipated event conducted by SLIM in association with Nielsen which is globally renowned for its measurement and consumer insights.
Having stood the test time of time in the hospitality industry for more than 3 decades the Galadari Colombo is hopeful to remain in the hearts of its people as a brand that is trustworthy and dedicated to service.
Expatriates’ organization painting competition for Sri Lankan children from care homes highlights close India-Sri Lanka ties
Celebrating 75 years of India’s independence in Sri Lanka, Sri Lankan children from care homes converged in Colombo from all across Sri Lanka over 10-11 April 2021 for the final round of the nationwide painting competition organized by Colombo Expatriates Cultural Association (CECA) – a voluntary organization of expatriates consisting of mainly Indians – with support of the High Commission of India, Ministry of Education of government of Sri Lanka and several other partners.
Prof. G.L Peiris, Minister of Education was the Chief Guest and Gopal Baglay, High Commissioner of India was the Guest of Honour at the final round. Several other dignitaries including State Minister Piyal Nishantha were also present. The dignitaries lauded the effort as a shining example of strong people-to-people ties between India and Sri Lanka and stressed the enormous significance of the enriching experience for the children.
The competition was held in three categories – Sub Junior, Junior and Senior. The first round of the competition had seen enthusiastic participation of 4,375 students from child care homes across Sri Lanka. Contestants from all provinces who had produced sixty best paintings were invited along with one care-giver for the final round held in Colombo on April 10 at Hotel Taj Samudra. While top three winners in all the three categories were awarded SLR 100,000, SLR 75,000 and SLR 50,000 respectively in addition to various other gifts, certificates and medals, all the 60 finalists received cash awards, desktop computers, and other gifts contributed by various sponsors.
The event also formed part of ‘India @ 75’ celebrations in Sri Lanka which comprise events and activities in the run up to completion of 75 years of India’s Independence in August 2022. Prime Minister of India Shri Narendra Modi had launched these celebrations in India on March 12 2021, 75 weeks before the 75th Anniversary of Independence. In Sri Lanka, formal launch of these celebrations had taken place on April 9 2021 with the inauguration of ‘India Corner’ at the Nagananda Institute for Buddhist Studies.
Chrissworld to raise Rs. 56.25 million through IPO
By Hiran H.Senewiratne
Chrissworld Ltd. (CWL), an SME company engaged in the provision of third-party logistics (3PL) services, is gearing to raise up to Rs. 56.25 million via an initial public offering (IPO) on the Colombo Stock Exchange, sources said.
The company plans to offer 7,500,000 Ordinary Voting Shares for subscription at Rs. 7.50 per share. The subscription will open on April 27, with Atara Capital Partners representing the company as managers to the issue.
Meanwhile, the CSE noted in a statement that it has approved an application submitted by Chrissworld Ltd. for the listing of its Ordinary Voting Shares by way of an offer for subscription on the Empower Board of the CSE.
The company, starting off with Rs. 6 million capital in 2019, expanded its capital to Rs. 22.5 million and projects to obtain Rs. 79 million after the IPO.
Chrissworld will be earmarking milestones with the IPO as the first to be listed on the Empower Board, CSE’s newest listing platform, dedicated to SMEs. Further, Central Depository Systems (Pvt.) Ltd., a subsidiary company of CSE, will step in for the first time as the registrar to the issue.
Amid those developments the CSE started on a bullish note yesterday and during the latter part of the day with heavy retail investor participation the CSE witnessed a bullish trend. It is said that manufacturing sector counters became the most popular stocks during the day. Notable price appreciation was reported in Hayleys Group, Royal Ceramic Group and Distilleries.
Both indices moved upwards. The All Share Price Index went up by 100.10 points and S and P SL20 rose by 49.18 points. Turnover stood at Rs. 3.51 billion with a crossing. The crossing was reported in JKH, which crossed 1.32 million shares to the tune of Rs. 199.3 million and its share price was Rs. 151.
In the retail market, companies that mainly contributed to the turnover were; Royal Ceramic Rs. 511.2 million (1.46 million shares traded), Expolanka Holdings Rs. 359.9 million (4.5 million shares traded), Hayleys Group Rs. 359.9 million (4.5 million shares traded), Dipped Products Rs. 321 million (5.5 million shares traded), JKH Rs. 290 million (1.9 million shares traded), and Haycarb Rs. 177 million (1.5 million shares traded). During the day 87.8 million share volumes changed hands in 23900 transactions.
Hayleys shares appreciated by Rs. 6 or eight percent. Its shares started trading at Rs. 75.90 and at the end of the day they moved to Rs. 82. Royal Ceramic shares appreciated by Rs. 13.5 or nine percent. Its shares started trading at Rs. 328.25 and at the end of the day they moved to Rs. 358.75. Expolanka shares appreciated by Rs. 2.70 or five percent. Its shares started trading at Rs. 49.70 and at the end of the day they shot up to Rs. 52.40 and Distilleries shares appreciated by 70 cent or 3 percent from Rs. 20.20 to Rs. 20.90
Sri Lanka’s rupee quoted steady at 202.00/203 to the one month US dollar Monday, while gilt yields remained unchanged, dealers said.
The rupee last closed in the one-week forward market at 202/203 to the US dollar on Friday. Sri Lanka markets were dull as seasonal bliss kicks in.
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