HPL Properties buys Tangalle Bay Hotel in Sri Lanka
ECONOMYNEXT – Singapore-based HPL Properties Limited said it had bought 94.7 percent stake in Tangalle Bay Hotels (Pvt) Ltd of Sri Lanka for 385 million rupees.
The purchase was made through West Asia Investment (Pvt) Ltd, which is owned by HPL Properties (West Asia) Pte Ltd, the firm said.
Tangalle Bay Hotel was controlled by Sri Lanka based investor Nimal Perera.
Sri Lanka’s East West group, has said HPL Group is also in talks to buy full control of Weligama Bay Hotel. (Colombo/Aug31/2018)