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Seizing the opportunity presented by a resurging post war Sri Lanka, in June 2010 the LOLC Group expanded its horizons by investing in the Leisure Industry which was fast becoming a sector filled with lucrative opportunities. This decision was taken in the aftermath of peace being achieved after 3 decades of Civil War which had ravaged the economy and particularly the Tourist Industry. The investment centered around the acquisition of 4 prestigious Resort hotels located on the South Western coast of Sri Lanka at a location called Kaluwamodera which is in the centre of the internationally famed "Golden Mile" in Beruwela. In geographic terms it is approximately an hour and a half by road from Colombo. The hotels named as the Eden Resort and Spa with 158 rooms classed as a 5* Resort, The Riverina Hotel with 192 rooms classed as a 4* Resort, the Club Palm Garden with 140 rooms classed as a 3* resort and the Tropical Villas with 50 rooms classed as a 3*resort hotel. All these hotels have had an impact on the Sri Lankan Leisure Industry and have a series of accolades and awards over the years. They are open throughout the year and are used by leading Travel Operators from Europe and the UK. Specific information about them can be seen in the following Web link www.lolcleisure.com The Company has further diversifying its interests by investing in the purchase of a pristine block of land in the famed East Coast of Sri Lanka. The land extent is approximately 30 acres and it is envisaged to build an International Resort Hotel with foreign collaboration. An extent of another 10 acres of land has been purchased in Kosgoda on the Southern coast of Sri Lanka for an alternative development of the same magnitude. It is the fervent intent of the Company to increase its room strength in different parts of the island by building a series of internationally renowned standard hotels in these exotic locations. The positive improvement in Tourist arrivals has given the Company courage to venture in to these new developments. |
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