* 500-key luxury hotel on US$ 125mn defence property to be completed by 2014
* 300-room Hambantota city resort to open in 2013
Hong Kong based Shangri La Asia Limited yesterday (3)issued an official announcement of the purchase of six acres of government land facing the Galle Face green promenade, a prominent landmark in Colombo, Sri Lanka.
"The development will be a multi-use complex with high-end retailing, deluxe apartments and 500-key luxury hotel to open early 2014. The purchase marks the entry of the hotel group in Sri Lanka, often referred to as the ‘Pearl of the Indian ocean’," the hotel group said in a statement.
As reported last week in The Island Financial Review, the outright purchase was concluded for US$ 125 million, and the property is to be developed into the country’s only 7-star hotel. The land belonged to the Ministry of Defence.
Shangri La is also planning a second property, a 300-key city resort on approximately 100 acres of land in Hambantota, on the southern coast of Sri Lanka to open in 2013.
"Sri Lanka is a country of unsurpassed natural beauty, rich in cultural heritage and above all, it is well recognised for its warm and hospitable population," said Greg Dogan, President and CEO of Shangri La International Hotel Management Ltd.
"The local government is fully committed to rebuilding the economy following the end of three decades of conflict and we believe Shangri La will be able to assist in positioning the country as a prime global tourist destination. Both Shangri La hotels strategically fit in the group’s ongoing expansion plans to link the Indian sub-continent and our South East Asia developments," he said.
Shangri La manages 70 hotels with a room inventory of over 30,000.
The group has a substantial development pipeline with upcoming projects in Austria, Canada, mainland China, India, Macau, Malaysia, Philippines, Mongolia, Russia, Qatar, Turkey and United Kingdom.
source - www.island.lk
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