Shangri-La enters Sri Lanka
05 January 2011
Hong Kong-based luxury hospitality group Shangri-La Asia Limited has entered Sri Lanka with the purchase of six acres of government land in Colombo.
The land will be used to develop a multi-use complex with high-end retail facilities, deluxe apartments and a 500-key luxury hotel. The development is expected to open in early 2014.
The group said it is also planning to develop a second property, a 300-key city resort on approximately 100 acres of land in Hambantota, on the southern coast of Sri Lanka.
"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. The local government is fully committed to rebuilding the economy following the end of three decades of conflict and we believe that Shangri-La will be able to assist in positioning the country as a prime global tourist destination. Both Shangri-La hotels strategically fit into the group's ongoing expansion plans to link the Indian subcontinent and our South East Asia developments," said Greg Dogan, president and CEO of Shangri-La International Hotel Management Ltd.
Hong Kong-based Shangri-La Asia Limited, one of the world's premier hotel companies, currently owns and/or manages 70 hotels under the Shangri-La and Traders brands, with a room inventory of over 30,000.
