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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » Colombo Hilton

Colombo Hilton

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1Colombo Hilton Empty Colombo Hilton Tue Jun 08, 2021 5:27 pm

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Colombo Hilton Hilton-Colombo-1

Proposed Project Description :
5-star hotel with 382 guest room, 3 speciality restaurants, Gym & Spa, Executive lounge Coffee shop and laundry and 2.25 acres of land for further development. Hotel has 18 floors with 2 towers with provision to construct an additional tower for expansion of hotel operations with the most beneficial business model.

Expected investment :
USD 130 million
Expected method of partnership :
Private Public Partnership (PPP) with 49% divestment option to the investor.

Employment generation :
1400 employees including the expansion and option for future development

Market potential :
The hotel has a history of over 30 years of operations in the city and currently holds the highest market share in terms of revenue and most profitable unit. The brand image and the current market position could be leveraged for growth and expansion of operations. Hotel also leads the MICE market operations with its regional presence and the facilities and services provided to clientele.

Payback period :
8 years
Period to commence commercial operation :
Hotel in operation and the expansion projects to be completed by Dec. 2024.

Current status of the project :
Current hotel operations in progress. New expansions and developments under feasibility report stage.
Common infrastructure and utility availability :
To be confirmed

Geographical Location :
Lotus Road, Colombo 01
Land Extend :
6.8 acres including 2.25 acres for development
Estimated Land value :
LKR 14 billion
Land Agreement/ownership :
99 Year lease

Benefits to the Investor :
Additional 2.25 acres of land for mixed development and investment recovery. Hotel in operation for last 30 years and in profitable status with optimum use of resources and space. Strategic Development and BOI status could be provided for new development project to the investor with tax concessions. Management control can be provided to the investor on mutually agreed terms. Additional hotel tower could also be added for further expansion of the hotel. Leverage market potential through the brand image created by Hilton.

Contact details :
(Name, Designation, Institute, Telephone, Email, Website)
Mr. M. S. Mohideen
Group Chief Executive Officer , Selendiva Investments Limited
773830693 mshamal@hotmail.com

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