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Shangri-La in Colombo

28 December 2010 10:40 am - 38     - {{hitsCtrl.values.hits}}

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Hong Kong-based leisure group Shangri-La has signed a deal to acquire land to build a seven-star hotel in the Sri Lankan capital Colombo, the chairman of the tourism authority Nalaka Godahewa said.

Shangri-La signed the agreement Tuesday to acquire 10 acres of government property near the Galle Face green promenade, Godahewa told Vimasuma.com, our sister news website.

The army headquarters which is now located on the land, considered prime commercial property, is to be moved to another location in a Colombo suburb.

Godahewa said Shangri-La will invest about 500 million US dollars in the hotel project which will have almost 500 rooms.

Sri Lanka is experiencing a tourism boom, with arrivals up sharply, after the end of the island's 30-year ethnic war in 2009. (LBO)

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  Comments - 38

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  • Aru Tuesday, 28 December 2010 12:28 PM

    Whether five or seven stars - this is the time people are seeing stars with the rising cost of veggies, coconuts not forgetting the electricity bill.

    Wara Tuesday, 28 December 2010 12:24 PM

    exaclty !!

    cracko Tuesday, 28 December 2010 12:48 PM

    What happened to the Hyatt hotel project nearby, opposite Cinnomon Grand? A current eyesore.

    Paul Tuesday, 28 December 2010 01:07 PM

    This works out to be 1 million dollars per room...it will take decades before they see a return on their money. Most hotels expect to make a profit within 5 years and rarely do they actually own the property. Something not quite right here - more facts please.

    I Hussein Tuesday, 28 December 2010 01:08 PM

    Shangri-La is prominant hotel chain and they know how to make business.
    In fact SL needs more luxury hotels in and out of Colombo.
    We are a tourist destination and tourism will boom.

    We cannot critise the GOSL when good things are done.

    Dilhan - Dubai Tuesday, 28 December 2010 01:17 PM

    Guys be optimistic!! .at leats now the pelple can talk about a development in the counrty.

    Dilhan - Dubai Tuesday, 28 December 2010 01:18 PM

    kumar what do you know about hotels, come to dubai i will show you 7 star hotels

    san Tuesday, 28 December 2010 03:16 PM

    They will mind their business. Y you bother about their profit or loss?

    MSA Tuesday, 28 December 2010 04:08 PM

    please do not talk things that your do not know.

    mohamed asfar Wednesday, 29 December 2010 08:02 AM

    shangri la, welcome to sri lanka.

    DXB Tuesday, 28 December 2010 10:55 AM

    The perch is worth minimum 10 Million on open market , it is the only lucrative land in heart of colombo , would like to know what is the price goverment got for a perch .???

    lankaputha Tuesday, 28 December 2010 11:06 AM

    Few questions.
    1. Tell the total received for the selling of 10 Acres land in the heart of Fort ?
    2. What is the commission?
    3. What are the opportunities for the Sri Lankans to work on those projects?

    J Dan Tuesday, 28 December 2010 11:12 AM

    something wrong some were, I sound very fishy

    jt Tuesday, 28 December 2010 07:46 PM

    no seven star hotels in sri lanka, you mean. stop showing your ignorance to us!

    ND Tuesday, 28 December 2010 11:23 AM

    Did you guys ask teh question how many jobs will be made because of this investment???

    KD Tuesday, 28 December 2010 08:20 PM

    Please return to the present. You have been living in the past for too long.

    hrm Tuesday, 28 December 2010 11:20 AM

    what do u expect? a hotel project doesn't mean a 10 - 20 year long one. with or without commission are u willing to do such thing??

    hrm Tuesday, 28 December 2010 11:22 AM

    u won't be fishy if it's done by the party u voted for..

    bigsam Tuesday, 28 December 2010 11:28 AM

    What - no competitive bidding before selling off the most prime land in the country???

    kumar Tuesday, 28 December 2010 11:33 AM

    It is FOR the CHINESE, BY the Chinese. And for the "kakkas". But this is also only for a season!

    lankaputha Tuesday, 28 December 2010 11:36 AM

    what are you trying to say.. ?
    My questions are for the general public, so they know the removal of the Army camp is worth.
    They know that GOSL got a good amount of money as they sell the land
    My last question is, does the income from this transaction goes to the budget.
    Total that I would spend to buy that land is 3200 Million ruppees. or 32 million Dollars. Any thing less ....

    malkanthi Tuesday, 28 December 2010 11:36 AM

    Is there 10 acres property available near the Galle Face green??

    Lankadot Tuesday, 28 December 2010 11:38 AM

    how many ?

    They said 500 rooms , so asume one room boy for one room
    500 room boys
    500 waitors
    100 various managers

    Is this big investment ?

    Cobra Tuesday, 28 December 2010 11:46 AM

    This is a good thing as long as the Galle face Green is not touched in any way.All in all a boost for development of tourism.There will definitely be jobs for our youth unless of course the Chinese factor comes in. But the commission, well it's always been part of any deal here in old Sri lanka!!!

    Mr Serious Tuesday, 28 December 2010 11:42 AM

    totally agree. clandestine deals like these are quiet common. i am all thumbs up for development work such as this. but there should have been a proper auction in other words GSL should have evaluated this more. i personally think its not the right place for a 7 star hotel with the nasty beire lake on the side.

    Konde bendapu china Tuesday, 28 December 2010 11:49 AM

    Lets re build this beautiful country once in for all.with commission or with out these guys wants to develop.So lets help them if they are not successful next election people can change

    Kumar Tuesday, 28 December 2010 11:54 AM

    There is no such seven star hotels. Maximum five stars are given for the best ranked hotels.

    kalakanniya Tuesday, 28 December 2010 11:48 AM

    if it was done by RW defenetely 4th world war will be declare by JNP and the gang

    Ruzaik Wednesday, 29 December 2010 09:50 AM

    7 star sounds good.. it will be the only second 7 star hotel in the world after Burj Dubai.. Tourism will boom, just to see the hotel.. but if this ends up in a 5 star then there is a problem..

    lankaman Tuesday, 28 December 2010 11:52 AM

    ooh la la...

    gaman saman Tuesday, 28 December 2010 11:58 AM

    i pity shangri la as they can never make money on a US$500M investment on a 500room hotel.
    I somehow doubt the truth of the report, which is just for gullible believers

    FC Tuesday, 28 December 2010 11:53 AM

    it is a very good move. But there are few people whom difficult to swallow this kind of things, just because of politics.

    Hasitha Tuesday, 28 December 2010 12:02 PM

    Don't you know army HQrs is to be shifted to out of the city and the same land to be used for this project.


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