Browns Investments PLC (BI) announced the re-branding of LOLC Leisure to Browns Hotels and Resorts.

In March this year, Browns Investments acquired sole shareholder status of LOLC Leisure.Hotels under the Group include: Eden Resort and Spa, Dickwella Resort and Spa and Green Paradise, Dambulla. The company also announced the construction of a 71-room four star hotel in Passikudah, which is scheduled to be opened later this year.

The company’s current portfolio holds 308 keys, with plans to increase it to around one thousand within the next few years. “Browns Investments has expanded its footprint in the leisure sector and made a number of significant acquisitions. This increased interest will lead us to soon be one of the largest hotel operators in Sri Lanka.

This is extremely timely, considering the country’s increased focus on tourism.” said Rimoe Saldin, Managing Director and Chief Executive Officer, Browns Investments PLC.

A 363-roomed, 25 acre property located along the golden mile of Beruwala,currently under construction and scheduled to be completed in 2016,will be included in the portfolio of hotels; as will be a 172-roomed five-star property, already under construction in Kosgoda which will be completed during the first half of 2015. The company also owns properties in Nilwella and Trincomalee, and is looking at options for a new city hotel.

Browns Investments is a subsidiary of Brown and Company PLC, with its ultimate parent company being LOLC.