The Board of Investment (BOI) of Sri Lanka signed an agreement with Indra Hotels and Resorts Kandy (Pvt) Ltd., a joint venture between John Keells Hotels PLC and Indra Traders (Pvt) Ltd., to build a 160-room, three-star, lean luxury hotel in Kandy.

The agreement was signed on behalf of the BOI by Susantha Ratnayake, Chairman of the Board, and Indra Silva, Chairman of Indra Hotels and Resorts Kandy (Pvt) Ltd.

The US$ 29.32 million project will facilitate the building of this second lean luxury property which is expected to be completed in mid-2022. A part of the Cinnamon brand, the property will be managed by Cinnamon Hotel Management Ltd.

Cinnamon Hotels and Resorts initiated the lean luxury concept and segment to Sri Lanka in 2014 with Cinnamon Red Colombo. With the addition of this new property in the hill capital, Cinnamon Red Kandy will become the first and only Leed Gold certified hotel in Kandy.

Source: https://ceylontoday.lk/news/boi-signs-us-29-32m-agreement-with-jkh-and-indra-traders#:~:text=The%20Board%20of%20Investment%20(BOI,lean%20luxury%20hotel%20in%20Kandy.