Thai hospitality brand Minor International has secured a key investment in Sri Lanka with the acquisition of local resort owner and developer, Cyprea Lanka.
Assets of Cyprea Lanka Pvt. include the Kani Lanka Resort & Spa, Kalutara, and an adjacent plot of land primed for the development of the Anantara brand. The total acquisition and development investment by Minor for the 80.1 percent stake is an estimated US$22 million.
Serendib Hotels, which Minor also acquired in 2007, will buy the remaining stake.
Minor will oversee the operation of the Kani Lanka Resort & Spa as part of the company’s ever increasing portfolio of global properties.
The venture also creates an opportunity to introduce an Anantara branded property to Sri Lanka by developing the adjacent prime beachfront location.
Nestling the picturesque confluence of the majestic Kalu Ganga River and vast Indian Ocean along the south west coast of Sri Lanka, Kani Lanka Resort & Spa resides 76km and a 2 ½ hour drive from the International Airport, and 10 minutes from the historical town of Kalutara.
Nearby heritage sites include the world’s only hollow Buddhist shrine and an elegant plantation mansion. The resort itself, originally designed by a French architect, has been re-designed by renowned architect Geoffrey Bawa. Blending colonial charm and authentic Sri Lankan culture with state of the art comforts, 99 superior rooms and 6 suites boast spectacular ocean, river and garden views from private balconies or patios.
William E Heinecke, Chairman and CEO of Minor International commented, “We are delighted with this new acquisition on many levels. Firstly the investment enriches our foothold in Sri Lanka; a destination which we view as offering immense potential. Moreover the specific location of the pending Anantara property offers a perfect fit with the brand’s promise of immersing story collecting travellers in the world’s most enchanting settings through unique discovery experiences, underpinned by true connoisseurship and luxurious, heartfelt hospitality.”