Minor International, which owns and operates spas under the Anantara brand, has acquired an 80.1 per cent stake in Sri Lankan hospitality company Cyprea Lanka in a deal worth US$22m (€16.1m, £14m).
The agreement means that Minor now has control of Cyprea's assets, which include the Kani Lanka Resort in Sri Lanka - as well as adjacent land already primed for an Anantara-branded development.
Minor International chair and CEO William Heinecke, said: "The investment enriches our foothold in Sri Lanka, a destination that we view as offering immense potential.
"The specific location of the pending Anantara property offers a perfect fit with the brand's promise of immersing story collecting travellers in the world's most enchanting settings through unique discovery experiences, underpinned by true connoisseurship and luxurious, heartfelt hospitality."
Minor International currently has 31 hotels operating in eight countries under the Anantara, Marriott, Four Seasons, Elewana and Minor International brands in Thailand, the Maldives, Vietnam, Africa, the Middle East and Indonesia.
It first entered the Sri Lankan market in 2007 after it acquired a 19.9 per cent stake in the Serendib Hotels.
