LOLC takes over Dickwella Resort

LOLC Leisure took over the Dickwella Resort in the deep south of Sri Lanka, expanding the hospitality industry. Dickwella Resort is at the Southern-most tip of Sri Lanka. LOLC Leisure purchased 100 percent for Rs. 1,014 million. LOLC Leisure is owned by LOLC and Browns Investments with a holding of 70 percent and 30 percent.

Deputy Chairman, LOLC Group Ishara Nanayakkara, the holding company of LOLC Leisure said: "We are proud to take over this beach side property situated at such a prized location.

This marks another milestone in our leisure holdings and propels us into the forefront of the hospitality industry.

Dickwella Resort will be another key offering in our group of hotel properties along the western coast of Sri Lanka.

The resort has already carved out a distinctive niche for itself on the global tourist map and we intend to upgrade the luxury facilities and enhance the room capacity in the months ahead to catapult it further into a multi-star category hotel.