Sri Lanka offloads hotel investments

August 3, 2017 by  
Filed under Hospitality, News, Sri Lanka

COLOMBO, 3 August 2017: Sri Lanka announced plans, Wednesday, to sell off two state-owned luxury hotel companies following its billion-dollar privatisation of a loss-making port.

Government spokesman Rajitha Senaratne said ministers approved the seeking of bids for a 51% stake in Hotel Developers (Lanka) plc, whose luxury hotel in Colombo is managed by Hilton.

He did not give a value for the company, which occupies prime land in the heart of Colombo. Read more