Cinnamon Lakeside, Cinnamon Grand, Cinnamon Red and soon Cinnamon Life/The Waterfront? That's one too many Cinnamons in Colombo, hence a very profitable exit from one of them - Lakeside has been on the cards. This reduces having too many eggs in one basket and enables the group to exit with big profits and cash for upgrades on the high growth potential hotels (Cinnamon Bey/Blu etc).
Two local chains have been mooted as buyers, Spence/Softlogic or else a foreign party without a presence in Colombo. Any ideas on how this has progressed? Current net asset value is Rs 5.762 billion or 28.81 per share.
How many times PE or NAV have hotel deals been done at recently?
When was the land/property been revalued given the steep land value appreciation and refurbishments over the year. Hotel was only partly operational during the massive refurbishment, hence some reduced earnings.