Shangri-La has increased its existing investment in the Colombo project from US $ 450 million to US $ 600 million, according to Minister Abeywardena.
The hotel with a room capacity of 661 is expected to be opened in 1Q17, ahead of its scheduled date of 3Q17.
Meanwhile, the hotel group’s US $ 120 million 375 rooms Resort and Spa in Hambantota is also in the final stages and scheduled to be opened in the 2Q15.
Both hotels started construction work in February 2012.
Dismissing the opposition’s baseless allegations about the projects, the Minster showed the progress the two hotels have made during a media conference last week.