Analysing Sri Lanka's Property market, investment options and latest property news in Sri Lanka
Sunday, 21 October 2012
Hyatt International to manage Hyatt Regency Colombo at Celestial Towers
Hyatt International South West Asia Ltd, affiliated to Hyatt Hotels Corporation entered into a management agreement with Sinolanka Hotels and Spa on Friday to manage the Hyatt Regency Colombo hotel at the state-acquired Celestial Residencies, better known as Celestial Towers, at Kollupitiya.
The site is one of the iconic properties of collapsed Ceylinco group of companies and was acquired under the Revival of Under performing Enterprises and Underutilized Assets Act as an under performing asset.
The project, expected to be completed by December 2013, will be developed as a five-star luxury hotel complex consisting of approximately 565 rooms with around 94,000 square meters in built up area and 43 stories in height.