Ceylon Hotels Corporation

Last updated
Ceylon Hotels Corporation PLC
Company type Public
CSE:  CHOT.N0000
ISIN LK0032N00009
Industry Hospitality
Founded1966;58 years ago (1966)
Headquarters
Colombo
,
Sri Lanka
Key people
RevenueIncrease2.svg LKR878 million (2023)
Decrease2.svg LKR(196) million (2023)
Decrease2.svg LKR(152) million (2023)
Total assets Increase2.svg LKR14.385 billion (2023)
Total equity Decrease2.svg LKR9.775 billion (2023)
Owners
Number of employees
Increase2.svg 398 (2023)
Parent Ceylon Hotel Holdings
Subsidiaries The Kandy Hotels Company (1938) PLC
Website www.chcplc.com
Footnotes /references
[1]

Ceylon Hotels Corporation PLC, often called Ceylon Hotels, is a hospitality company in Sri Lanka. The company was incorporated through an Act of the Parliament of Ceylon in 1966. The company was listed as a public company in the following year. Ceylon Hotel Holdings, a subsidiary of Galle Face Hotels Group is the holding company of Ceylon Hotels Corporation. Ceylon Hotels' subsidiary, Kandy Hotels Company owns and operates the Queen's Hotel and the Hotel Suisse heritage hotels.

Contents

History

Ceylon Hotels Corporation was incorporated through an Act of the Parliament of Ceylon, the Ceylon Hotels Corporation Act, No. 14 of 1966. [2] The company was listed on the Colombo Stock Exchange in the following year. The Gardiner family who owned a 26% stake in Galle Face Hotels Group, acquired a 35% stake in the Ceylon Hotels Corporation on 8 July 2005. [3]

Ceylon Hotels signed an agreement with Cinnovation-CG Corp's Zinc Hospitality Lanka to set up a joint venture, Ceylon Holidays Holdings in 2014. Ceylon Holidays Holdings was a fully owned subsidiary of Ceylon Hotels, Zinc Hospitality Lanka agreed to invest LKR250 million for a 50% of stake in Ceylon Holidays Holdings. The two parties agreed to develop properties under CHC Rest Houses, a subsidiary of Ceylon Holidays Holdings. [4] Ceylon Hotels through its subsidiary, United Hotels Company acquired Ceylon Hotels Maldives, a firm which was developing a resort in the Maldives. [5] Ceylon Hotels Maldives entered into a joint venture with Zhen Hua Engineering Company Limited, a subsidiary of China Harbour Engineering Company. Through the joint venture, an 85-100 room resort was planned to be built in Anbaraa island of Vaavu Atoll of Maldives. [6] However, in 2021, Ceylon Hotels decided to divest its 50% stake in the joint venture for US$4.49 million. The resort was planned to open in 2020 but instead reported losses in 2020 and 2021. [7]

Operations

The Kandy Hotels Company (1938) PLC

The heritage hotel, the Queen's Hotel is owned by the Kandy Hotels Company, a subsidiary of Ceylon Hotels Corporation SL Kandy asv2020-01 img05 Queens Hotel.jpg
The heritage hotel, the Queen's Hotel is owned by the Kandy Hotels Company, a subsidiary of Ceylon Hotels Corporation

The Kandy Hotels Company (1938) PLC is a subsidiary of Ceylon Hotels Corporation. As of 2022, Ceylon Hotels holds a 69.54% stake in the Kandy Hotels Company. The Kandy Hotels Company is the owner and operator of the Queen's Hotel and the Hotel Suisse. [1] Kandy Hotels Company entered into an agreement with Sino Lanka Hotel Holdings to set up a joint venture to build OZO Kandy in 2012. OZO Kandy was planned to have 120 rooms. [8] OZO Kandy officially opened in 2015. [9] The hotel has been rebranded as Radisson Hotel Kandy in 2022. [10]

EKHO Hotels and CHC Rest Houses

EKHO Hotels is a hotel brand operated by Ceylon Hotels' subsidiary, United Hotels Company. Through Ceylon Holiday Holdings, its joint venture with Zinc Hospitality Lanka owns and operates several rest houses across the country. [1] [11]

See also

Related Research Articles

Aitken Spence PLC is a Sri Lankan blue chip conglomerate with operations in South Asia, Middle East, Africa and Pacific. Listed on the Colombo Stock Exchange since 1983, it has major interests in hotels, travel, maritime services and logistics. The group also has a significant presence in printing, plantation, power generation, financial services, IT, Business Process Outsourcing/Knowledge Process Outsourcing sector, elevator agency services, garments, and property development.

<span class="mw-page-title-main">Vallibel One</span> Sri Lankan conglomerate holding company

Vallibel One PLC is one of Sri Lanka's largest conglomerate companies. The company controls a chain of subsidiaries and listed on the Colombo Stock Exchange since 2011. The company has controlling stakes in LB Finance, Royal Ceramics Lanka, and Delmege Group. The company was included in S&P Sri Lanka 20 Index in 2018. Vallibel One is one of the LMD 100 companies in Sri Lanka.

<span class="mw-page-title-main">Cinnamon Hotels & Resorts</span> Sri Lankan luxury hotel chain brand

Cinnamon Hotels & Resorts is a major Sri Lankan luxury hotel chain brand. Cinnamon Hotels was recognised as the most valuable hospitality brand in Sri Lanka for 2019 with a brand equity of seven billion Sri Lankan Rupees. Philip Kotler, the renowned marketing author included a 10-page reference of the brand in his 2010 co-authored book, Asian Competitors: Marketing For Competitiveness In The Age Of Digital Consumers on the effective use of social media and various digital initiatives.

<span class="mw-page-title-main">John Keells Hotels</span> Sri Lankan hotel holding company

John Keells Hotels PLC is a hotel holding company in Sri Lanka. John Keells built its first resort in 1973 in Habarana. John Keells' hotel management company operated under several names. In the 1970s, the company was known as Walkers Tours Hotels. Then in the 1980s, it was known as simply Hotel Management & Marketing Services, and finally, in the 1990s, the company became to known as John Keells Hotels. John Keells ventured into the Maldives in 1996 with the acquisition of Velidhu Resort Hotel. In 2004, the hotel chain underwent a major restructuring. All resorts were brought under John Keells Hotels Limited, and the company was listed on the Colombo Stock Exchange.

<span class="mw-page-title-main">Carson Cumberbatch</span> Sri Lankan conglomerate holding company

Carson Cumberbatch PLC is one of the largest conglomerates in Sri Lanka which also has business interests in Indonesia, Malaysia, and India. The company has its origin in the colonial era, having been founded by merging two companies founded by R. B. Carson and Henry Cumberbatch. The Selvanathan family, founders of the Sri Krishna Corporation, is the ultimate controlling shareholder of the company.

<span class="mw-page-title-main">Amaya Resorts & Spas</span> Sri Lankan hotel chain

Amaya Resorts & Spas, trading as Hayleys Leisure PLC, is a Sri Lankan hospitality company. The company is listed on the Colombo Stock Exchange on 11 March 1996 and Sri Lankan conglomerate, Hayleys owns a controlling stake of 61.66% of the company's stocks. In 2020, Amaya Resorts & Spas ranked 87th amongst the top 100 most valuable brands in Sri Lanka by Brand Finance.

<span class="mw-page-title-main">Cinnamon Lakeside Colombo</span> Luxury hotel in Sri Lanka

Cinnamon Lakeside Colombo, trading as Trans Asia Hotels PLC, is a five-star luxury hotel located in Colombo, Sri Lanka. The hotel is listed on the Colombo Stock Exchange and John Keells Holdings owns a stake of 92% of the company's shares, 48% directly and 43% through its subsidiary Asian Hotels and Properties PLC. Cinnamon Lakeside Colombo has 346 rooms including 20 suites.

<span class="mw-page-title-main">CIC Holdings</span>

CIC Holdings PLC is a Sri Lankan conglomerate holding company engaged in merchandising and manufacturing chemical products. The company was incorporated in 1964 and listed on the Colombo Stock Exchange in the same year. Initially, the company was a part of Imperial Chemical Industries and prior to 2011, was known as Chemical Industries (Colombo) PLC. The company ranked 41st in LMD 100, an annual list of leading listed companies in Sri Lanka. The company also ranked 31st in Business Today's Top 40 for 2020–21 financial year.

<span class="mw-page-title-main">Lankem Ceylon</span> Manufacturing company in Sri Lanka

Lankem Ceylon PLC is a chemicals, paints and consumer goods manufacturing company in Sri Lanka. The company also engaged in the hospitality industry by owning and operating resorts in Sri Lanka. The company is incorporated in 1964 by Royal Dutch Shell and listed on the Colombo Stock Exchange in 1970. Brand Finance ranked the company 88th most valuable brand in Sri Lanka. The company ranked 61st in LMD 100, an annual list of quoted companies by revenue in the financial year 2019–20.

<span class="mw-page-title-main">Cinnamon Citadel Kandy</span> Building in Kandy, Sri Lanka

Cinnamon Citadel Kandy, formerly known as The Citadel Kandy, is a four-star hotel located in Kandy, Sri Lanka. The hotel is located on the bank of the Mahaweli River. The hotel's main deck is decorated with Dumbara weaving designs and an 18-foot handwoven wall hanging by Ena de Silva.

<span class="mw-page-title-main">Sunshine Holdings</span> Sri Lankan conglomerate holding company

Sunshine Holdings PLC is a Sri Lankan conglomerate holding company that is engaged in the healthcare, consumer goods and agribusiness sectors. Sunshine Holdings was incorporated on 16 June 1973, and listed on the Colombo Stock Exchange in 1983. Sunshine Holdings ranked 45th in LMD 100, a list of quoted companies in Sri Lanka by revenue in the 2020/21 edition.

<span class="mw-page-title-main">Brown and Company</span> Sri Lankan conglomerate holding company

Brown and Company PLC, sometimes called Browns Group, is a conglomerate holding company in Sri Lanka. The company was founded by James Brown, a 25-year-old engineer and mechanic from London who arrived in Ceylon in 1872. In 1892, the company was incorporated and in 1991 the company became a listed company on the Colombo Stock Exchange. The company was included in S&P Sri Lanka 20 Index in June 2021. Brown and Company is one of the LMD 100 companies, an annual list of Sri Lankan listed companies by revenue, having ranked 42nd in the 2020/21 edition.

<span class="mw-page-title-main">Haycarb</span> Activated carbon manufacturing company in Sri Lanka

Haycarb PLC is a coconut shell-based activated carbon manufacturing company in Sri Lanka. Haycarb was incorporated in 1973. The company controls 16% of the world's market share. Haycarb operates manufacturing plants in Sri Lanka, Thailand and Indonesia, while marketing offices are located in the United States, the United Kingdom and Australia.

<span class="mw-page-title-main">Mahaweli Reach Hotel</span> Hotel in Kandy, Sri Lanka

Mahaweli Reach Hotel, traded as Mahaweli Reach Hotels PLC, is a five-star luxury hotel in Kandy, Sri Lanka. The hotel is located on the banks of the Mahaweli River, hence the name. The hotel was founded in 1973 and in 1982, it was listed on the Colombo Stock Exchange. Mahaweli Reach became the first five-star hotel in Kandy in 2000. Universal Enterprises, a Maldivian resort operator has been the controlling shareholder of the hotel since 2002. Mahaweli Reach, a hotel with colonial architecture, was designed by Ashley de Vos.

<span class="mw-page-title-main">Citrus Leisure</span> Hospitality company in Sri Lanka

Citrus Leisure PLC is a hotel chain in Sri Lanka. The hospitality company owns and operates Citrus Waskaduwa, Citrus Hikkaduwa and the Steuart by Citrus. The company was incorporated as Hotel Reefcomber Limited in 1973. In 2010, the company was rebranded as Citrus Leisure when Dilith Jayaweera and Varuni Fernando of Triad Advertising bought a stake in the company. In 1984, the company was quoted on the Colombo Stock Exchange.

<span class="mw-page-title-main">Asiri Hospital Holdings</span> Healthcare company in Sri Lanka

Asiri Hospital Holdings PLC, doing business as Asiri Health, is the largest private healthcare provider in Sri Lanka. The company commenced operations in 1986 and was listed on the Colombo Stock Exchange in the same year. Asiri Hospitals operate six hospitals and collectively has over an 800-bed capacity. Softlogic Holdings is the parent company of Asiri Hospitals group. Asiri Hospital Holdings ranked 57th in the LMD 100, an annual list of listed companies by revenue, in the 2020/21 edition.

<span class="mw-page-title-main">Cinnamon Bentota Beach</span> Building in Bentota, Sri Lanka

Cinnamon Bentota Beach, formerly known as Bentota Beach Hotel, is a luxury five-star hotel in Bentota, Sri Lanka. The hotel was built in 1967 and designed by Geoffrey Bawa. After refurbishment, the hotel reopened in 2019. The hotel is owned and operated by a subsidiary of John Keells Holdings under its luxury hotel chain, Cinnamon Hotels & Resorts. Cinnamon Bentota Beach is known for its architecture and decor.

<span class="mw-page-title-main">Jetwing Symphony</span> Hospitality company in Sri Lanka

Jetwing Symphony PLC is a hotel chain in Sri Lanka. The company was incorporated in 2007. Following an oversubscribed Initial Public Offering in December 2017, the company started publicly trading on the Colombo Stock Exchange in January 2018. Jetwing Symphony is the holding company of the Jetwing Group's new hotels. As of 2022, Jetwing Symphony manages seven properties across the country.

<span class="mw-page-title-main">Aitken Spence Hotel Holdings</span> Sri Lankan hotel holding company

Aitken Spence Hotel Holdings PLC is a hotel chain holding company based in Sri Lanka. The Sri Lankan conglomerate Aitken Spence is the parent company of Aitken Spence Hotel Holdings. The company operates hotels in Sri Lanka, Maldives, Oman and India. Aitken Spence ventured into the hospitality business by building two seaside resorts designed by Geoffrey Bawa. The company was founded in 1978 as Ahungalla Hotels Ltd and is the proprietor of the Hotel Triton. Ahungalla Hotels Ltd was listed on the Colombo Stock Exchange in 1980. In 1994, after acquiring Aitken Spence Hotels Ltd, the company gained control of the properties of the hotel chain. Kandalama Hotel and the Tea Factory Hotel commenced operations in 1994 and 1996 respectively. The company opened its first resort in the Maldives in 1993.

References

  1. 1 2 3 "Annual Report 2022/23" (PDF). cse.lk. Ceylon Hotels Corporation PLC. Retrieved 25 October 2023.
  2. ↑ "Ceylon Hotels Corporation (Repeal) Act, No. 25 of 2007" (PDF). parliament.lk. Parliament of the Democratic Socialist Republic of Sri Lanka. 2007. Retrieved 26 August 2022.
  3. ↑ Perera, Shalini (2011). Corporate Ownership and Control: Corporate Governance and Economic Development in Sri Lanka. Singapore: World Scientific. p. 175. ISBN   978-9-81283-747-9 . Retrieved 26 August 2022.
  4. ↑ "Ceylon Hotels Corporation ties up with Zinc Hospitality to develop hotel industry". adaderana.lk. Ada Derana. 29 August 2014. Retrieved 26 August 2022.
  5. ↑ "Sri Lanka's Ceylon Hotels Corp buys Maldives resort firm". Economy Next. Echelon Media. 16 November 2015. Retrieved 26 August 2022.
  6. ↑ "Ceylon Hotels Cor. enters into a joint venture for US$ 50mn hotel in Maldives". Daily News . Associated Newspapers of Ceylon Limited. 7 February 2018. Retrieved 26 August 2022.
  7. ↑ "Ceylon Hotels Corp. to divest stake in Maldivian resort project for US $ 4.5mn". dailymirror.lk. Wijeya Newspapers. 14 October 2021. Retrieved 26 August 2022.
  8. ↑ Perea, Keishara (7 August 2012). "Kandy Hotels, Sino Lanka to set up 'OZO Kandy'". Daily Mirror . Wijeya Newspapers. Retrieved 27 August 2022.
  9. ↑ "OZO Kandy celebrates official opening". Daily FT . Wijeya Newspapers. 19 May 2015. Retrieved 27 August 2022.
  10. ↑ "Radisson Hotel Kandy Sri Lanka". google.com. Radisson Hotel Kandy Sri Lanka. Retrieved 27 August 2022.
  11. ↑ "Hirdaramani buys 10% in Ceylon Hotels Corp". dailymirror.lk. Wijeya Newspapers. 22 January 2016. Retrieved 27 August 2022.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.