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Wednesday, December 29, 2010 - 06.44 GMT |
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BOI grants approval to Shangri-La |
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The Board of Investment of Sri Lanka (BOI) yesterday (28 Dec) granted approval to Hong Kong-based leisure group Shangri-La to set up a seven star hotel in the capital.
Representatives of the Shangri-La group signed the agreement with government officials to acquire 10 acres of government property near the Galle Face green promenade. USD 75 million has already been spent for this purpose.
 Shangri-La's total investment is about 500 million US dollars in the hotel project which will have 500 rooms.
In August this year Kuok Khoon-Ean, the Chairman/CEO of Shangri-La Hotels and Resorts visited Sri Lanka to explore the possibilities of opening a hotel in the country.
Established in 1971 with its first deluxe hotel in Singapore, Shangri-La Hotels and Resorts currently own and/or manage 66 hotels featuring extensive luxury facilities and services. Shangri-La hotels are located in Australia, Canada, China, Fiji, India, Indonesia, Japan, Malaysia, Maldives, Nepal, Philippines, Singapore, Oman, Taiwan, Thailand, and the United Arab Emirates.
Inspired by the legendary land featured in James Hilton's novel Lost Horizon published in 1933, the name Shangri-La encapsulates the serenity and service for which Shangri-La is renowned worldwide. The Shangri La Hotels and Resorts is Asia Pacific's leading luxury hotel group and regarded as one of the world’s finest hotel ownership and management companies.
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