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Sri Lanka Equity Forum » Stock Market Talk » Hotel Services Ceylon- SERV

Hotel Services Ceylon- SERV

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1Hotel Services Ceylon- SERV Empty Hotel Services Ceylon- SERV on Fri Sep 09, 2011 11:47 am

Hawk Eye

Hawk Eye
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

Hotel Services is the Holding Company of the oldest 5 star hotel in Sri Lankan capital Colombo. Ceylon Continental is located in 4 acres free hold land, having 250 rooms.

Hayleys purchased 89.76mn shares taking 51% controlling interest and undertook extensive refurbishment. Hotel Services (Ceylon) PLC signed the agreement with the BOI to carry out the refurbishment project under the BOI. The project is an initial investment of US $ 1 million that will be increased to US $ 6 million. The refurbishment of the Ceylon Continental Hotel was undertaken by reputed Architect Firms MICD Associates and DDN Design (Pvt.) Ltd. The Hotel Refurbishment commenced in December 2010, and this entails a complete redesign and upgrade of the rooms, main and reception lobbies, restaurants and other public areas of the hotel. This significant renovation programme is scheduled for full completion by mid-2012. Once renovations are completed, the hotel’s improved product and facilities would help the Company to regain its position at being the forefront of the Colombo city hotels as a preeminent luxury.

Hayleys management was keen to venture aggressively in the Leisure sector making it one of the main sector with properties under their own control and management whilst exiting from its minority stakes. As a result they disposed Vil Uyana-Sigiriya, Sea Shells –Negombo, light House-Galle

Hayleys now have the following hotels under the group. Hotel Services,Hunas Falls, Jetwing Hotels, Negombo Beach, Tropivcal Villas and Eastern Hotels.
After KDDPs involvement in Hayleys lot of changes going on. Recent acquisition of Amaya Leisure PLC by Hayleys on September 1st 2011, which marked as a significant milestone in the development of the conglomerate’s Leisure and Aviation business sector as stated in its site. By this strategic move KDDP is planning to bring all Leisure under one umbrella. SERV will take advantage of the positive synergies as it marketing and Admin expenses have shot up considerably in June Qtr results.
On the other hand all hotels under Amaya is almost 80% -100% owned, KDDP and will try to do the same with the Hotels under Hayleys to have better control. Therefore can expect SERV to be active in future.
All depends on what KDDP have back in his mind. We can see lot of interesting moves by him. Lot of factors looks positive for SERV and some big bids on the board.
Your views pls

2Hotel Services Ceylon- SERV Empty Re: Hotel Services Ceylon- SERV on Thu Oct 13, 2011 11:55 am

Hawk Eye

Hawk Eye
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Look at the trades today.Any idea whos buying these huge quantities?

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