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Lankalia acquires 85% stake of Oga Reach Yodakandiya for Rs 185 Mn

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Lankalia (Pvt) Ltd, a newly formed, BOI approved company, has acquired 85% stake of Oga Reach Yodakandiya, Tissamaharama. This with a capital infusion of Rs. 185 million.

Chairman, Lankalia, Dhakshitha Bogollagama said that due to the pandemic many hotels found it difficult to continue and they identified Oga Reach Yodakandiya, Tissamaharama too in this same plight.

“We then approached their management and signed an MoU first to settle their dues and take over the management. We will also provide part of profits to the present management of the hotel as they hold 15% stake. Oga Reach Tissamaharama is a newly built hotel with 22 rooms (14 premium and 8 deluxe rooms) and with tourism bouncing back we see tremendous potential in developing this property.”

He said that after they took over they re-employed new staff and appointed S. Srimohan as the General Manager. “We have an international marketing arm based in Singapore and we will market this hotel through them.”

Lankalia similarly have already taken major shares in 10 other hotels investing over US $ 6 million and are looking to invest more through their partners based out of Singapore. We will promote all of them all over the world through our digital platform,” Bogollagama said.

Srimohan said that they have employed new staff mainly from the area in a bid to give them a new source of income.

“We also hope to introduce water sports activities and will use resources of fisher folk in the area for this initiative as well.”

He said the hotel also has a large swimming pool, hot and cold water, Cable TV, Free wifi, a large garden, 24 hour reception and many other amenities. “Due to our close proximity to Yala National Park, Kirinda, Bundala, Hambantota Bird Park and many other similar places of interest we would launch special packages and here again give nearby local operators preference.” (SS)


Friday, April 21, 2023 – 01:00

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