Nine parties have expressed interest to buy Hilton Colombo
Daily FT: Nine parties have responded to the Expression of Interests (EOIs) to buy Hotel Developers Lanka Ltd., the owning company of popular five star Hilton Colombo, the State-Owned Enterprises Restructuring Unit (SRU) has said.
The deadline for EOIs closed on Thursday and the EOIs received were considered by the Opening Committee appointed by the special Cabinet appointed Negotiating Committee.
“The 9 EOIs will be evaluated as per the special guidelines on divestiture of State-Owned Enterprises approved by the Cabinet of Ministers in July 2023,” SRU said.
Colliers International Consultancy and Valuation (Singapore) Ltd. and its advisory partner Platinum Advisors Ltd., as transaction advisors for the divestiture of Hotel Developers will continue to advise the Government.
The Government acting through The Ministry of Finance, Economic Stabilization and National Policies on 9 October, called for EOIs from potential investors for the acquisition of shares in Hotel Developers Lanka.
The programmed launched by the government of Sri Lanka to restructure state owned enterprises (SOEs) has presented a host of new business/investment opportunities for foreign businesses/investors looking at entering Sri Lanka’s economy. Local authorities have identified several leisure and hospitality businesses including the Hilton Colombo to be divested. With Sri Lanka’s tourism industry on a steady growth path, opening up many business/investment opportunities in the industry, especially in the leisure and hospitality sectors, the Hilton Colombo presents a lucrative business opportunity. Located in the heart of Sri Lanka’s commercial capital, Colombo, which is on its path to becoming a business hub in the region, an investment in a star class city hotel would ensure a quick return on investment (ROI). The growth and business potential in Sri Lanka’s leisure and hospitality sectors is evident by the number of parties that have already expressed interest in purchasing the Hilton Colombo. Foreign businesses/investors could therefore explore opportunities in investing in the Hilton Colombo as well as other business/investment opportunities in Sri Lanka’s leisure and hospitality sectors.
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