The Softlogic Group after finalizing the purchase of Hotel Ceysands at Bentota at a price of Rs.925 million is gearing to refurbish and rebrand it, officials said.
“We’re in discussion with an Asian resort operator to rebrand it and manage it for us,” Ashok Pathirage, Chairman Softlogic told the Business Times. He said that Softlogic intends to retain the structure and build a four to five star hotel with Rs 1 billion.
He said another 50 rooms will be added to the existing 65 rooms. Ceysands is situated direct on the split of land between the Bentota river and the Indian Ocean, 65 km south of Colombo. A ferry takes guests to the hotel across the river. Mr. Pathirage also said that the 5-star hotel they’ll be building with the Swiss Moevenpick Hotels and Resorts will be located next to the Colpetty shopping mall Liberty Plaza, in a 90-perch land.
He said the estimated cost to build this hotel is some US$ 30 million. He added that the Initial Public Offering (IPO) that Softlogic has planned will go on board by next quarter. He did not want to comment on how much they’ll be raising. He added that the IPO will facilitate Softlogic’s expansion plans.
The then UNP Government abolished the tax on the salaries of public servants in 1978 with the aim of enlisting the services of intellectuals, qualified and talented persons. |
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