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FINANCIAL CHRONICLE™ » EXPERT CHRONICLE™ » Browns bullish on investments in local, international hotels

Browns bullish on investments in local, international hotels

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samaritan

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Browns bullish on investments in local, international hotels 5d776213817bcf196205be3ddba638c9

By Duruthu Edirimuni Chandrasekera

LOLC Holdings PLC’s strategic investment arm, Browns Investments through its subsidiary, BI Leisure Holdings is on the lookout for more hotels in Mauritius on the back of acquiring PL Resort Limited (there) and in such similar destinations, senior officials said.


The company is also on the acquisition mode for hotels locally, they said. “We are on the lookout and also negotiating on buying some more hotels,” a senior Browns official told the Business Times on Thursday. BI Leisure Holdings has been incorporated in the United Arab Emirates and it has entered into a share sales and purchase agreement to acquire PL Resort Limited, which is a private company established in Mauritius owning a 100-room capacity luxury beach resort in Mauritius valued at US $ 12 million, with a purchase consideration of $ 3.7 million. PL Resort Limited is managed and operated by Radisson Hotel Management Company under the Radisson Blu brand. Browns is also in discussions with owners of some local and foreign leisure companies to acquire some hotels, according to the official.


Seven months ago, Browns Investments acquired the controlling stake of 55.65 per cent of Serendib Hotel PLC (Serendib) for a consideration of Rs. 792 million. This investment was made by Browns Investments subsidiary leisure company, Eden Hotel Lanka PLC. Last year Browns Investments entered into a management agreement with Barceló, one of the largest global hotel operator chains to manage The Eden Resort and Spa, The Paradise Resort and Spa, Nasandhura and Bodufinolhu. Further, Barceló is to make an equity investment of 30 per cent into the development of Bodufaru three island project.


The group has set its sights on expanding its financial footprint globally. “We will also be aggressively looking at companies in the financial sector in Central Asia and Africa,” he said. He noted that LOLC and Browns are exploring opportunities in the financial space in countries like Uzbekistan, Armenia, Azerbaijan, Kazakhstan, Kyrgyzstan, Moldova, Turkmenistan, Tajikistan etc. He added that this is part of their global growth strategy.


https://www.sundaytimes.lk/210718/business-times/browns-bullish-on-investments-in-local-international-hotels-449412.html


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According to a Chinese Embassy twitter message of July 18th with the chart below states that Sri Lanka is now leading the vaccination speed in the world.
Browns bullish on investments in local, international hotels E6k2t54UUAUyV60?format=png&name=small


Strategic move by LOLC:

What a time for LOLC group to step up its acquisition of tourist hotels locally and overseas through their investment arm BIL to take advantage of the pent up demand in the tourism sector. Apart from this BIL's involvement in the mega Port City project is well known.

https://twitter.com/n2addict/status/1417036590665244675

A Technical Analyst's view on BIL



Just hold on to #CSEBIL it has completed what appears to be Spring and Test phases and may look to jump off the creek to make a SoS (Sign of Strength) RSI in the upper 60s Trend is perfectly placed. Its all in the hands of the smart operators to take it Browns bullish on investments in local, international hotels 1f680 Browns bullish on investments in local, international hotels 1f680 This is NFA. DYODD



Browns bullish on investments in local, international hotels E6wSRrBXMAAoABQ?format=png&name=900x900

https://twitter.com/ArifeenRavin/status/1417528585452101634

Rational Investor likes this post

Today saw more than 2 Mn foreign buying on BIL.This is a significant buying of BIL by foreigners today after some time.Good signal.

BIL.N000 what will be the price this time?

August is the month of BIL. Hope big news before Chinese PM visits

Browns bullish on investments in local, international hotels JlrqJq8sWEbmfhwzfIHae_UlAPtFix-tQiKOmexCjbM

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