Minor International, which owns and operates spa resorts across Asia under several hotel brands, has acquired an 80.1 per cent stake in Sri Lankan hospitality company Cyprea Lanka in a deal said to be worth over UK£14 million.
Minor International PLC is one of the largest hospitality and leisure companies in the Asia Pacific region with over 1,000 restaurants and 27 hotels and resorts. From its founding in 1978 with a single beachfront resort in Pattaya, the Company has expanded to include hotels and resorts under the Anantara, Four Seasons, Marriott, Elewana and other brands in Asia, Indonesia, the Middle East and Africa.
This new agreement means that Minor I’ntl now has control of Cyprea’s assets, which include the Kani Lanka Resort in Sri Lanka – as well as adjacent land already primed for an Anantara-branded spa resort development.
Minor International chair and CEO William Heinecke, said: “The investment enriches our foothold in Sri Lanka, a destination that we view as offering immense potential.
“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.”
It first entered the Sri Lankan market in 2007 after it acquired a 19.9 percent stake in Serendib Hotels.