Acorn Leisure signs alliance with NDB Capital Group, Sunil Fernando & Associates

From left: Acorn Leisure Managing Director Harith Perera, CEO Malinga Arsakularatne, Chairman Mahbubul Anam, NDB Capital Holdings CEO Senaka Kakiriwaragodage, Sunil Fernando & Associates Managing Director Manju Fernando, Executive Director Dilshan Perera, and Acorn Leisure Vice President – Resorts and Villas Subanu Perera

Acorn Leisure, a subsidiary of the Acorn Group, has taken a significant step toward expansion by signing a Memorandum of Understanding (MoU) with NDB Capital Group and Sunil Fernando & Associates.

Since its inception in 2020, Acorn Leisure has demonstrated remarkable growth, driven by an innovative hotel operations model that emphasises transparency and strong governance. The partnership is designed to create a powerhouse in leisure management, providing crucial industry value additions such as innovative funding opportunities, project investment services, and real estate advice, to drive sustainable growth in Sri Lanka’s tourism sector. As the industry continues to recover and evolve, this alliance is expected to set new standards in hospitality, offering resort and villa owners cutting-edge solutions tailored to the demands of a rapidly changing market.

The Acorn Group, renowned for its leadership across multiple sectors—including aviation management, inbound/outbound tours, resort and villa management, and freight and logistics—operates from eight global offices. 

Acorn Group CEO Malinga Arsakularatne said: “This collaboration with NDB Capital Holdings and Sunil Fernando & Associates represents a significant milestone for Acorn Leisure. By leveraging the financial expertise of NDB Capital Group and the real estate acumen of Sunil Fernando & Associates, we are confident in tapping into unique opportunities and driving substantial growth in the hospitality sector. Through this partnership, we can better contribute to the growth of Sri Lanka’s tourism and provide unparalleled opportunities and value to our stakeholders.” 

NDB Capital Group, the country’s premier capital market conglomerate, brings its formidable financial expertise to the partnership. “This partnership represents a perfect alignment of expertise and vision, allowing us to tap into the vast potential for growth in the hospitality sector alongside Acorn Leisure. We are confident that this collaboration will unlock new opportunities, deliver exceptional value to our stakeholders, and facilitate potential investment and structured finance options for the growth of Acorn Leisure,” said NDB Capital Holdings Ltd. CEO Senaka Kakiriwaragodage.

With over 50,000 clients and Rs. 350 billion in assets under management, NDB Capital extends its influence beyond Sri Lanka to regions such as Bangladesh, the Maldives, and Africa. Their comprehensive suite of services, including investment banking, wealth management, and private equity management, is set to bolster Acorn Leisure’s expansion plans.

Sunil Fernando and Associates, a pioneering valuation and advisory firm with a 24-year legacy in Sri Lanka, also plays a crucial role in this collaboration. Known for their in-depth real estate insights and extensive network, the firm will enhance Acorn Leisure’s capacity to deliver unparalleled value to resort and villa owners, both domestically and internationally.

Sunil Fernando & Associates Managing Director Manju Fernando said: “Our collaboration with Acorn Leisure is a testament to our commitment to excellence in real estate advisory. Together, we will elevate the standards of resort and villa management in Sri Lanka, combining our industry-leading insights with Acorn Leisure’s dynamic approach.”

This MoU underscores Acorn Leisure’s unwavering commitment to excellence, innovation, and growth in the hospitality industry, positioning the company at the forefront of Sri Lanka’s tourism revival, while also highlighting its ambitious plans to expand beyond the shores of Sri Lanka.