|
|
 |
 |
| Sunday, 15 February 2004 |
 |
|
 |
Business |  |
| News Business Features Editorial
|
Riverina rights issue oversubscribed Riverina Hotel Ltd, part of the Confifi Group of Hotels, announced that applications received for the rights and additional shares exceed the number of shares offered by the company, resulting in an oversubscription . A spokesperson for Riverina Hotel Ltd, said that the demand for shares in the company remain strong despite the drop in share value to Rs 30 from their peak rate of Rs 45 due to the downward trend in the Colombo bourse. All shareholders who have still not taken their rights are eligible to send in their applications on or before February 16, 2004. Riverina Hotel, a Tourist Board approved 4-star hotel, is the largest individual resort property in Sri Lanka with nearly 200 rooms. Riverina has the distinction of being as one of the hotels in Sri Lanka, featured by all major German tour operators: TUI, LTU, ITS, Meier's Weltreisen, Thomas Cook and FTI. Similarly in the UK market, Riverina works with major suppliers such as Kuoni, Hayes & Jarvis, Cosmos, First Choice and Thomson Holidays. The hotel is currently enjoying close to 100% occupancy and its management forecasts a positive demand for the hotel till the end of the tourist season in April 2004. The popularity of the hotel is due to its many facilities which include a Mini Club catering to children, a horse riding school and a unique ayurveda villa which has been a big success since its opening. To maintain the growing demand, better facilities and services are vital and the company has decided to embark on a major renovation and refurbishment programme commencing on May 1, 2004. The hotel will be closed for business for five months from 1st May to 30th September 2004 for a comprehensive renovation covering entrances, lobbies, restaurants and guest rooms which will be fully renovated to international 4-star standards. Facilities such as satellite TV, mini bars, tea and coffee making facilities, hair dryers and in-room safes will be introduced to all guest rooms. A considerable part of the investment will also be put into the back of the house areas such as kitchens, laundry, water supply, sewage treatment and power supply. Directors: M.T.A. Furkhan (Chairman) - M.H.M. Nazeer - Nowfel S. Jabir - M.C.T. Cassim - V. Balasubramaniam - K.L.S. Kaviratne - A.C.M. Thassim - S. Furkhan - F.H. Ansar - P.T.P.C. Gomes |
|
News | Business | Features
| Editorial | Security Produced by Lake House |
