Sri Lanka’s Galadari Hotels in discussion with Radisson Blu to manage the hotel
Galadari Hotels in Sri Lanka is reportedly in talks with Radisson Blu, which is an upscale global hotel brand, to manage the 450-room star class property in Sri Lanka’s commercial capital – Colombo.
Sri Lankan English newspaper, Daily FT has reported that discussions have been ongoing for a few months, though a final decision is yet to be made.
According to reports, Radisson Hotel Group is one of the world’s largest hotel groups, with seven distinctive hotel brands with more than 1,100 hotels globally and its portfolio of hotel brands includes: Radisson Collection, Radisson Blu, Radisson, Radisson RED, Park Plaza, Park Inn by Radisson, and Country Inn and Suites by Radisson.
The new development comes amidst a previously announced US$ 15 million upgrade of the Colombo city hotel, the local media reports state.
The refurbishment of the 450-room hotel was to be done in two phases and it had included the rooms in the first phase, and lobby, reception, shops and the restaurants in the second phase.
The management had also hoped to start the revamp in February 2020, for completion by the latter part of March 2021.
The Daily FT has further reported that the investors, Galadari Brothers, are exploring alternative options and a deal with Radisson Blu being one of them. It has been stated that the duo have an existing relationship in the Middle East.
OSL take:
With international brands like Marriott and Ritz Carlton entering in to Sri Lanka’s tourism industry, more international brands are expressing interest in entering the market. Sri Lanka’s tourism industry is on a continuous growth path and the island continues to be listed as a must visit destination by many globally renowned travel publications resulting in the increase in tourist arrivals. Therefore, Sri Lanka’s tourism industry has become a hotspot for business/investment opportunities.
| Article Code : | VBS/AT/24022020/Z_6 |