By: Staff Writer
Colombo (LNW): Lanka Hotels and Residencies Ltd. (LHR) Chairman Don Gamini Gunaratne revealed that following years of delay owing to the COVID-19 pandemic and Sri Lanka’s economic woes, the Sheraton Colombo Hotel, which was developed by LHR, was officially launched on 30 December.
He stated that LHR had invested nearly $ 100 million in the development of the Colombo Sheraton Hotel.
He further revealed that LHR had entered into a 30-year management contract with Marriott International for the hotel.
“We have entered into a management contract with them. It is the same principle that has been adopted in Courtyard by Marriott Colombo, which was done by Abans and managed by Marriott,” he stated.
In May 2012, LHR and its promoters – Green Water Resorts Ltd. India and Eurocon Building Industries FZC of the UAE – entered into a management agreement in Colombo with the US-based Starwood Hotels and Resorts Worldwide Inc., owners of the Sheraton brand, to operate and manage the Sheraton Colombo Hotel.
The 320-room Sheraton Colombo Hotel located in Colombo 3, complete with a Presidential Suite and other themed luxury suites along with a collection of four restaurant outlets, was originally scheduled to be launched in 2020.
However, the COVID-19 pandemic and the subsequent economic crisis proved to be a damper on such plans.
The architectural contract for Sheraton Colombo Hotel had been awarded to leading global architectural design consultancy firm WS Atkins, which is also the designer and engineer for Burj Al Arab, the Address Downtown, Dubai Metro, and the 2012 Olympic Games in London.
The interior design contract was awarded to Catallo Associates of Singapore. International hotel brand Sheraton is coming to Sri Lanka with a $80 million investment through a new Sri Lanka partner, contrary to earlier reports that India-based ITC Ltd was bringing the brand here.
ITC Ltd is a franchisee for the US-based Sheraton leisure group and it was earlier announced that this entity was bringing the Sheraton brand in a $75 million investment.
However, Lanka Hotels & Residencies Pvt Ltd and its promoters, Greenwater Resorts Pvt Ltd India and Eurocon Building Industries FZC of the UAE signed an agreement in Colombo with US-based Starwood Hotels & Resorts Worldwide Inc, owners of the Sheraton brand to operate and manage the ‘Sheraton Colombo’ hotel.
The agreement was signed by Lanka Hotels Chairman K.D. Gamini Gunaratne, Nandkishor Chaturvedi and Ravindra Lad (Lanka Hotels’ directors) and Nikhil Manchharam, Starwood Group Vice President .
The architect of the project is W.S. Atkins, designers and engineers of Dubai’s landmark Burj Al Arab hotel and the Olympic Games in London. “Lanka Hotels and the Starwood Group are looking forward to other development opportunities in Sri Lanka,” the statement said.
