The Serendib Touring Ltd., which was incorporated in 1973, to manage Hotel Serendib, Bentota, subsequently expanded its portfolio to include a total of seven hotels, which included Club Hotel Dolphin, Hotel Sigiriya and Hotel Serendib, (three hotels owned by the group), while the rest were managed on behalf of other owners. Hemas Holdings Ltd. which invested heavily in the hotel’s holding company, appointed Mr. Abbas Esufally in 1999, as the Chairman of the company (on retirement of their founder Chairman Mr. Asker Moosajee).
A new corporate identity was unveiled in 2000, followed by an image building campaign, with the name of the company being changed to Serendib Leisure Management Ltd. The company ceased managing all non-owned hotels, retaining only the management of the three above mentioned properties. Extensive refurbishment programmes were carried out over the past few years and all the three hotels can proudly hold their own, in their respective categories as popular, 3 to 4 star hotels. In August 2010, the Serendib Leisure Group of hotels and Minor International Public Co., Ltd. jointly acquired Kani Lanka Resort & Spa. Both Kani Lanka Resort & Spa and Hotel Serendib was rebranded as Avani Kalutara Resort and Avani Bentota Resort & Spa respectively and are managed by Serendib Leisure Management Limited.