Tuesday, December 5, 2023

Latest Posts

“Foreigners Only” tourist establishments warned with a plan to develop hospitality assets

The Sri Lanka Tourism Development Authority has warned that hotels and restaurants that follow the ‘Foreigners Only’ policy will face a license cancellation.

In a statement on Tuesday (18) SLTDA said it received complaints regarding discriminatory practices followed by some tourist establishments against Sri Lankan citizens, and a decision was made to take action over these complaints.

SLTDA said after a formal complaint is made and if the establishment is found to have been discriminatory, Sri Lanka Tourism Development Authority will NOT hesitate to suspend or cancel the licenses, including informing travelers about it and notifying Online Travel Agencies to abstain from taking any bookings.

At the same time, Sri Lanka Tourism Development Authority  has urged the domestic travelers also to ensure that the tourist property is well taken care of, that we adhere to the hotels requirements and be brand ambassadors for the industry and country.

 Tourist establishments could make complaints against such guests who neither care for the property nor adhere to stated requirements of the establishments and SLTDA will take necessary action against such guests, the authority said.

 Selendiva Investments Ltd. has called for investment brokers to facilitate investors for the development of heritage properties and hospitality assets.

Stockbroking firms, investment consultants, investment banks and brokers are invited collectively for the registration of investment brokers, to refurbish and restore selected assets in the hospitality sector, which include the Grand Oriental Hotel (GOH), the York Building, Hilton Colombo and Hilton Sports Centre. 

As per Finance Ministry sources, Selendiva aims to commence the restructuring process for heritage properties and assets in the hospitality industry under a Special Purpose Vehicle (SPV) – Selendiva Leisure Investments – by attracting investors and operational experts.

The prospective investment brokers should have a detailed profile of investment broker (corporate profile or detailed CV) and any notable transactions executed. The brokers will be paid professional fees on a tiered basis, based on successful introduction of viable investors. For investment up to Rs. 100 million a professional fee of 0.64%, and for investments above Rs. 100 million a fee of 0.20%. Interested investment brokers should submit their information on or before 14 February 2022.

The development of the over 150-year-old colonial heritage properties – GOH and York Building are part of the integral development in the proposed ‘Heritage Square’ in Colombo. This refurbishment project is expected to have 110 luxury rooms, five conference rooms and five food-and-beverage (F&B) outlets. The building will also have 26 high-street retail outlets and 30 branded residents/suites.

“The key objective of the initiative to refurbish and restore York Building which houses the famed and historically renowned GOH, and to pay tribute to its former glory,” sources said.

Selendiva Investments Ltd. is a State-owned Enterprise (SOE) and has the Treasury Secretary of the Finance Ministry as the sole shareholder. It was formed in March 2020, following approval of the Cabinet of Ministers.

Latest Posts


Don't Miss

Stay in touch

To be updated with all the latest news, offers and special announcements.