Mahaweli Reach Hotel

Last updated
Mahaweli Reach Hotel
Mahaweli Reach logo.jpg
logo of the hotel
Mahaweli Reach Hotel
General information
TypeHotel
Town or cityKandy
CountrySri Lanka
Coordinates 7°19′31.0″N80°37′52.0″E / 7.325278°N 80.631111°E / 7.325278; 80.631111 Coordinates: 7°19′31.0″N80°37′52.0″E / 7.325278°N 80.631111°E / 7.325278; 80.631111
Opened1973;49 years ago (1973)
Design and construction
ArchitectAshley de Vos
Other information
Number of rooms108
Number of suites4
Number of restaurants3
Number of bars1
Website
www.mahaweli.com
Company
Type Public
CSE:  MRH.N0000
ISIN LK0118N00006
Industry Hospitality
Key people
  • M. U. Maniku (Chairman)
  • J. A. Panabokke (Managing Director)
RevenueDecrease2.svg LKR188 million (2021)
Decrease2.svg LKR(229) million (2021)
Decrease2.svg LKR(224) million (2021)
Total assets Decrease2.svg LKR1,744 million (2021)
Total equity Decrease2.svg LKR997 million (2021)
Owner
  • Universal Enterprises Pvt. Ltd (69.44%)
  • Freudenberg Shipping Agencies Ltd. (6.79%)
  • J. A. Panabokke (4.05%)
Number of employees
Decrease2.svg 211 (2021)
Footnotes /references
[1]

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. [2]

Contents

History

John Atul Panabokke established the hotel in 1973 after quitting his career as a planter. Panabokke converted his house with 4.5 acres (1.8 ha) garden into an 'A' grade tourist guesthouse comprising four rooms and six staff members. Subsequently, the hotel was expanded to 23 rooms in 1976 and 50 rooms in 1982. By 1998, the hotel consisted of 115 rooms with two suites. On 29 October 2000, the hotel was accredited with a five-star classification and became the first five-star hotel in Kandy. [3] In 2002, Universal Enterprises, a Maldivian resort operator, acquired a stake in the company worth LKR282 million. The hotel intended to utilise the funds to settle an outstanding loan to DFCC Bank, which has been a financial burden to the company. [4]

Mohamed Umar Maniku was appointed as the chairman of the hotel company in 2012 following the death of L. R. Panabokke, the founding director and chairperson. [5] The hotel obtained ISO 9001:2008 certification in 2015. [6] Mahaweli Reach chose Zhara Hospitality Suite as its online booking engine which was developed by JKCS in 2015. [7] The company received the Zero Carbon Hotel Stay accreditation in 2019 by The Sustainable Future Group. [8] Bidya Devi Bhandari, the president of Nepal, stayed at the hotel during her visit to Kandy for the closing ceremony of the United Nations' International Vesak Day celebrations. [9] The hotel was affected by the en masse cancellation of wedding receptions due to the COVID-19 pandemic in 2021. Eleven out of 20 weddings planned to host in the hotel were postponed. [10]

Operations

The hotel is located on the south bank of the Mahaweli river, 4.5 kilometres (2.8 mi) from the city centre. The hotel's amenities include a swimming pool, a tennis court, river boat cruises, a spa, snooker and table tennis facilities. [11] All rooms are facing the Mahaweli River. The hotel has conference facilities which can accommodate 300 guests. [3] Mahaweli Reach, a colonial architecture hotel, has kept vintage cars on display for the benefit of the guest experience. [12] The hotel is decorated with wall hangings of Ena de Silva. [13] The hotel is the title sponsor for the Mahaweli Reach Tennis tournament. It is a junior tennis tournament and the eighth edition of the tournament took place in 2019. [14]

See also

Related Research Articles

Ceylinco Insurance Sri Lankan conglomerate holding company

Ceylinco Insurance PLC is the largest private sector insurance company in Sri Lanka. The company is also engaged in the education and renewable energy sectors. The company offers both life insurance and all classes of general insurance. The company was incorporated in 1987 when the government ended its state monopoly over the insurance sector and the company was listed on the Colombo Stock Exchange the following year. Ceylinco Insurance is an LMD 100 company, an annual list of public companies in Sri Lanka by revenue and ranked 23rd in the 2020/21 edition.

Cinnamon Hotels & Resorts

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.

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 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.

Chevron Lubricants Lanka PLC is a manufacturer, distributor and marketer of Petroleum-based lubricants in Sri Lanka. The company is one of the constituents of the S&P Sri Lanka 20 Index and the Chevron Corporation holds a controlling stake (51.00%) of the company's stocks. The company offers engine oils, gear oils, transmission oils under the brand name Havoline while offering diesel vehicle engine oils, industrial lubricants, coolants, brake fluids under the brand name Delo. For the financial year 2019/20, Chevron Lubricants Lanka was ranked 67th in LMD 100, a list of listed companies by revenue in Sri Lanka.

Amaya Resorts & Spas

Amaya Resorts & Spas, trading as Hayleys Leisure PLC, is a Sri Lankan hospitality company. The company is listed on the Colombo Stock Exchange on March 11th, 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.

Cinnamon Lakeside Colombo 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 own 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.

WindForce

WindForce PLC is the largest renewable energy private sector company in Sri Lanka. The company was incorporated in 2010 and in 2021 was listed on the Colombo Stock Exchange. The company commission, construct and operate power plants and generate power through wind, solar and hydropower.

Hilton Colombo Luxury hotel in Colombo, Sri Lanka

Hilton Colombo is a Hilton brand five-star luxury hotel in Colombo, Sri Lanka. The hotel is owned by Hotel Developers (Lanka) Ltd. The company was incorporated in 1983 and was listed on the Colombo Stock Exchange in the following year. The hotel was launched in 1987 and the 30th anniversary was celebrated in 2017 with an issuance of a stamp and a first day cover. However, the company is delisted from the stock exchange in 2020 and solely owned by the Government of Sri Lanka, therefore, runs as a state-owned enterprise.

Overseas Realty

Overseas Realty (Ceylon) PLC is the largest listed real estate company in Sri Lanka. The company is the developer and the proprietor of World Trade Center Colombo and Havelock City. The company was incorporated in 1980 and was listed on the Colombo Stock Exchange in 1982. The company is ranked amongst the LMD 100, moving 17 positions up to number 76 for the fiscal year 2019/20.

L B Finance PLC sometimes spelt LB Finance, is a Sri Lankan non-bank financial institution. The company is incorporated in 1971 and initially, the majority of shares was held by Lewis Brown & Company. The company was listed on the Colombo Stock Exchange in 1997. In 2003, Dhammika Perera acquired the company and became a subsidiary of Vallibel One. Currently, the company is one of the components of the S&P Sri Lanka 20 Index. Brand Finance ranked the company 24th in the 100 most valuable brands in Sri Lanka. The company placed 39th in the LMD 100 for the financial year 2019/20.

Mövenpick Hotel Colombo Building in Colombo, Sri Lanka

Mövenpick Hotel Colombo is a five-star luxury hotel in Colombo, Sri Lanka. The hotel is part of the hotel chain brand Mövenpick Hotels & Resorts and is owned by the Sri Lankan conglomerate, Softlogic Holdings. It is the first hotel to be launched in Colombo in 25 years. The hotel is 24-storey high and includes 219 rooms.

CIC Holdings

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.

Lankem Ceylon

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.

Cinnamon Citadel Kandy 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.

Sunshine Holdings 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.

Brown and Company 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.

Haycarb 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.

Galadari Hotel Luxury hotel in Sri Lanka

Galadari Hotel, traded as Galadari Hotels (Lanka) PLC, is a five-star luxury hotel in Colombo, Sri Lanka. Emirati conglomerate, Galadari Brothers are the controlling shareholders of the hotel company. The hotel commenced operations in 1984. The hotel was previously managed by Le Méridien and JW Marriott before the Galadari Brothers themselves took over the management in 1994. The hotel suffered from a couple of terrorist attacks in the 1990s most notably in 1997. In 2022, the hotel won the Hotel Brand of the year award at the SLIM-Kantar Peoples Awards.

Vallibel Power Erathna PLC is a renewable energy company in Sri Lanka. The company operates three small hydropower projects. The company was incorporated in 2001 and in 2006, the company was listed on the Colombo Stock Exchange. Vallibel Power Erathna won the special honoree award in Forbes Asia's Best Under a Billion awards in 2015. Two projects of the company were eligible for the United Nations' Clean Development Mechanism.

References

  1. ↑ "Annual Report 2021" (PDF). cse.lk. Mahaweli Reach Hotels PLC. Retrieved 19 July 2022.
  2. ↑ Pieris, Anoma (2013). Architecture and Nationalism in Sri Lanka: The Trouser Under the Cloth. Routledge. p. 212. ISBN   978-0-41563-002-3 . Retrieved 21 July 2022.
  3. 1 2 Jansz, Beverley (7 April 2002). "Mahaweli Reach - the first 5-star in Kandy". Sunday Observer . Associated Newspapers of Ceylon Limited . Retrieved 21 July 2022.
  4. ↑ "Mahaweli Reach ties up with Maldivian company". Sunday Observer. Associated Newspapers of Ceylon Limited. 22 December 2002. Retrieved 21 July 2022.
  5. ↑ "Umar Maniku appointed new Chairman of Mahaweli Reach". Daily FT . Wijeya Newspapers. 19 September 2012. Retrieved 21 July 2022.
  6. ↑ "Mahaweli Reach Hotel Receives ISO 9001 Certification". The Sunday Times . Wijeya Newspapers. 25 January 2015. Retrieved 21 July 2022.
  7. ↑ "Mahaweli Reach Kandy opts for JKCS' Zhara HS". Daily News . Associated Newspapers of Ceylon Limited. 6 November 2015. Retrieved 21 July 2022.
  8. ↑ "Mahaweli Reach Now Offers 'Zero Carbon Hotel Stays'". dailymirror.lk . Wijeya Newspapers. 1 February 2019. Retrieved 21 July 2022.
  9. ↑ "Mahaweli Reach hosts Nepal President during her stay in Kandy". Daily FT. Wijeya Newspapers. 19 May 2017. Retrieved 21 July 2022.
  10. ↑ Hamza, Mahadiya (4 May 2021). "Sri Lanka hotels hit as Coronavirus wave crashes wedding season". Economy Next. Echelon Media (Pvt) Ltd. Retrieved 21 July 2022.
  11. ↑ Briggs, Philip (2018). Sri Lanka. Bradt Travel Guides. p. 381. ISBN   978-1-78477-057-0 . Retrieved 19 July 2022.
  12. ↑ Conlin, Michael V.; Jolliffe, Lee (2016). Automobile Heritage and Tourism. Taylor & Francis. p. 131. ISBN   978-1-31543-620-3 . Retrieved 19 July 2022.
  13. ↑ Maduwage, Shihara (22 October 2015). "An embodiment of feminine power". dailymirror.lk. Wijeya Newspapers. Retrieved 21 July 2022.
  14. ↑ Kuruppu, Aubrey (23 June 2019). "8th Mahaweli Reach Tennis Tournament continues despite showers". The Sunday Times. Wijeya Newspapers. Retrieved 21 July 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.