SRI LANKA Minor International is acquiring 80% of a small hotel company in Sri Lanka with the aim of expanding into the suddenly hot tourism market in Southeast Asia.
Minor’s US$11.6 million takeover of Cyprea Lanka Ltd., which owns the 110-key Kani Lanka Resort and Spa, Kalutara, will pave the way for Minor’s Anantara Hotels, Resorts & Spas brand to enter Sri Lanka. Cyprea controls land in Sri Lanka on which Minor plans to build a new Anantara property.