Sheraton in Colombo

Lanka Hotels and Residencies (Pvt) Ltd. and its promoters have entered into an agreement to operate and manage Sheraton Colombo. The formal agreement with Starwood Hotels and Resorts Worldwide, Inc., the owners of the 'Sheraton' brand, took place in Colombo recently. The new Sheraton in Colombo is expected to open its doors in October 2013.

Lanka Hotels and Residencies (Pvt) Ltd. and its promoters, Greenwater Resorts (Pvt) Ltd. of India and Eurocon Building Industries FZC of the UAE together with their Sri Lankan partner are making an investment of $ 80 million in the new Sheraton. This will be the first world known International brand hotel which will become operational since the end of terrorism.

Colombo Sheraton will be a 306-roomed property complete with a Presidential Suite and other themed luxury suites, which will also include a collection of four restaurant outlets and centrally located in Colombo 3. The architectural contract was awarded to a leading global firm of architectural design consultancies, M/S W.S. Atkins, Designers and Engineers for Burj-Al-Arab, The Address Hotel, Dubai's Metro System and the Olympic Games in London 2012. The interior design contract was awarded to M/S Catallo and Associates of Singapore.

The shareholders of Lanka Hotels and Residencies have demonstrated their commitment to the importance of Sri Lanka as an emerging market in the hospitality and leisure sector and are actively seeking to make further investments in Sri Lanka.