Sri Lankan government calls expressions of interest for two five star hotels in Colombo
The government of Sri Lanka has reportedly called for expressions of interest for the sale of stocks in the building that houses Colombo Hilton and a partially built tower which is expected to house a Grand Hyatt.
Expressions of interest have been called separately for the two hotels by October 31, 2018.
According to reports, Lazard Asia of Singapore and MTI Consulting of Sri Lanka are advisors to the sale.
The Colombo Hilton already has 355 rooms in operation.
An advertisement published in the state owned English daily newspaper states that there were two acres of prime land and foundations for an additional tower already built.
The Grand Hyatt when completed is to have 458 rooms and 100 serviced apartments.
OSL take:
The call for expressions of interest by the Sri Lankan authorities for two luxury hotels in Sri Lanka is an excellent investment opportunity for foreign businesses/investors. The stakes in the Hilton Colombo and Grand Hyatt are up for grabs for interested businesses. The sale comes at a time when Sri Lanka’s tourism sector is on a continuous growth path. Sri Lanka is even attracting off season tourists to the country. Therefore, investing in Sri Lanka’s leisure and hospitality business would yield positive results to the respective investor.
| Article Code : | VBS/AT/20181019/Z_6 |