The Shangri-La hotel chain, which will be initiating Sri Lanka’s first seven star hotel, has revised its plan of construction and has decided to increase their investment to US $450 million, excluding the cost of the land and along with an increase of rooms from the initial 500 to 625. The hotel is to be built on 10 acres of land overlooking the Galle Face Green.
The land was initially bought in 2010 with a price tag of US $ 125 million and the approval for the construction was received in the same year. With the increase of rooms and a newer plan already paving the way for the new building, the deadline has also gone up, with hopes for the project to see completion in 2017, though the preliminary plan was to finish the project in 2015.
The proposal for the new project has already been approved and the tax concessions will remain the same. With the project seeing fruition, the Electricity Board (CEB) will also have to shift one of their high-tension cables which are getting in the way of the construction and therefore, there are discussions underway between the relevant authorities with regard to this.
Shangri-La Colombo will comprise of a sushi bar, steakhouse, seafood market and Irish pub, specialty restaurants with Indian, Islamic, Szechuan and Macanese cuisines, a Sky lounge, meeting facilities, a swimming pool, spa and tennis courts.
In addition to this, Shangri-La’s Hambantota Resort and Spa, which is also in the pipeline, is set to include an 18-hole golf course and is set to offer 315 rooms, including 24 suites. Hambantota Resort and Spa will also comprise of a Sanctuary.
Shangri-La Hotels and Resorts is a Hong Kong based company and five star properties are located across Asia, the Middle East, North America, Oceania and Europe. The first hotel of the group was the Shangri-La Hotel Singapore and this opened in 1971.
The chain is the largest Asian-based luxury hotel group in the region and is regarded as one of the world’s finest hotel management companies.
Source: http://www.dailynews.lk/?q=business/shangri-la-increases-investment-us-450-m
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