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 Post subject: Hyatt, Sheraton, Hilton and Ramada to open hotels in Lanka
 Post Posted: Sun Mar 20, 2005 6:45 pm 
International Hotel Giants’ Confidence in Sri Lanka Tourism Continues to Grow

Date 18th March 2005 | Issue No 7
@ Bounce Back Sri Lanka

Colombo : In a major demonstration of confidence in the future of Sri Lanka tourism, leading international hoteliers recently announced plans to develop new properties in the capital, Colombo.

Prestigious global hospitality brands – Hyatt, Sheraton and Hilton – will all open upscale properties in the capital Colombo within the next two years.

The Hyatt finalised its proposed plan for the establishment of the Hyatt Regency Colombo on March 10, with an initial investment of more than US$50 million.

The agreement – signed between the Board of Investment Sri Lanka (BOI) and Ceylinco Consolidated Group – signals a new benchmark in hospitality in Sri Lanka.

The Hyatt Regency Colombo will comprise 252 rooms and employ more than 500 people. A central city location – on Galle Road opposite the Colombo Plaza - has been earmarked for the luxury five-star property.

Sheraton, a part of the giant Starwood Hotels and Resorts Group, is also moving ahead with its plans to establish its luxury brand name in Sri Lanka.

Senior vice-president for acquisitions and development, Mr Thomas Monahan, said:

“One of the things that interests us is that Sri Lanka is a multi-destination country. Yes, what has happened to the beaches is tragic but they have the hill country, the tea country, the wildlife parks, and the world heritage sites - all of which are easily accessible from the capital, Colombo,” he said.

The Colombo Sheraton property will be constructed on three acres of land - near the International Cricket Stadium - with an initial investment of more than US$25 million. It will be a fully-fledged business hotel with 300 rooms and modern conference facilities.

Starwood Hotels and Resorts will enter into a 50-50 joint venture with Universal Enterprises (Pvt) Ltd of Male, Maldives. Universal Enterprises are the promoters of the project and will be operating under the Sheraton brand name.

The Hilton has expressed interest in constructing a property at Arugam Bay, a world-class surfing destination on the east coast.

The international hotel chain already has a strong presence in Sri Lanka, with the 384-room Hilton Colombo - located in the heart of the business centre – offering its guests an extensive choice of business and leisure facilities.

The German chain, Ramada International, is planning to invest in two four-star hotel projects.

A 100-room hotel is planned for central Colombo and a 70-room hotel in Negombo. Construction of the Ramada Airport Hotel Negombo is scheduled to begin this year. The total investment for the two hotels is US$80 million.

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