Sri Lanka’s Galadari Hotel to reopen in Q2 2026
The Morning: Galadari Hotel, located in Colombo is expected to reopen in the second quarter of 2026, following a comprehensive refurbishment project, the company announced in a filing to the Colombo Stock Exchange (CSE).
The announcement, made by Galadari Hotels (Lanka) PLC, follows a series of previous disclosures dating back to 2019 regarding the ongoing redevelopment of the landmark property situated in Colombo 1.
Earlier this month, the company also revealed that it had entered into a supplementary agreement with the Board of Investment (BOI) of Sri Lanka to increase the envisaged investment for the refurbishment project from $ 33.5 million to $ 48.5 million, with the additional $ 15 million to be financed by Mashreq Bank PSC, UAE, and the holding company Galadari Brothers Co. LLC.
The extensive refurbishment aims to elevate the hotel’s standards and offerings to meet modern hospitality expectations while maintaining its long-standing reputation as one of Colombo’s premier five-star destinations.
OSL take:
The refurbishment and expansion of leisure and hospitality operations in Sri Lanka is a further indication of the growing tourism industry in the country. The steady increase of foreign tourist arrivals to the country amidst continuing promotional campaigns and expansion of tourism concepts to attract more foreign travelers to the country by local tourism authorities, have opened many business/investment opportunities in Sri Lanka’s tourism industry and related sectors. Much of these opportunities are in the areas of development of infrastructure and supplementary infrastructure facilities as well as in the leisure and hospitality sectors. The increase in the number of foreign travelers to the country and the need to be on par with global standards regarding the requirements of these travelers as well as the development of facilities to meet the expanding tourism concepts have all contributed to the overall expansion of opportunities in the country’s tourism industry. Given the growth and business potential in Sri Lanka’s tourism industry and related sectors, foreign businesses/investors could confidently explore the expanding opportunities and emerging lucrative business ventures in the industry.
| Article Code : | VBS/AT/20251118/Z_1 |