Re-branding of hotels: Serendib to Anantara

Move over -- Cinnamon, Chaya, Amaya and Heritance: here comes a new brand – Anantara courtesy the Serendib Group of Hotels.

“We have had negotiations with Minor International Public Co Ltd and their Anantara brand for the past six months and finally both sides came to an agreement,” said Srilal Miththapala, CEO of Serendib Hotels Ltd after the board of directors decided to officially invite the Thai-based group to invest in Serendib. The new investors are taking up a near 20 percent (19.9%) stake in the company and the Serendib board last week sought shareholders approval for the private placement of 2.39 million shares (voting) at Rs 45 per share and 1.1 million shares (non voting) at Rs 30 each. The Thai-based group which has the franchise for Marriot and Four Seasons in Thailand will develop and manage the Serendib properties – Sigiriya, Serendin and Dolphin …. aimed at re-positioning the hotels. “Rather than re-invent the wheel we looked around for an experienced hotel operator to come in as a joint venture partner,” noted Miththapala. The Thai company has properties in Thailand, the Maldives and Dubai.