LOLC buys Sri Lanka’s Confifi Hotels
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LOLC Securities Ltd, a subsidiary of Lanka ORIX Leasing Company PLC, has branched out into the hospitality sector by securing major stakes in Confifi Hotel Holdings Plc and Riverina Hotels Plc through the Colombo Stock Exchange. After 40 years of ownership and management, Chairman of Confifi Group Hotels, Desamanya Prof MTA Furkhan, and the company’s Managing Director, Stefan Furkhan, sold their holdings in Eden Hotel Lanka Plc, Riverina Hotels Plc and Confifi Hotel Holdings Plc.
“Our entrance into the leisure sector was a well thought out part of our tactical plan for group expansion for positioning in key sectors in the economic mosaic of Sri Lanka,” a spokesperson for LOLC said. “Our plans for the sector include further expansion.”
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