Bought by the Bank of Ceylon in 1954 for LKR 625,000 and subsequently leased to Ceylon Hotels the Grand Oriental Hotel located in the old city of Colombo is a location with a rich history that has been the choice of many illustrious patrons.
With the completion of the renovations of this historic landmark the government hopes to list the hotel in the Colombo Stock Exchange prior to the 31st of December, 2021.
According to the Secretary for the Ministry of Housing and Urban Development Mr. Nimal Perera the hotel will be operated under a Public- Private Partnership (PPP) where 51% of the shares will be under the control of the state while the remaining 49% will be distributed among private investors.
The renovations of the hotel were approved by the government as part of its strategic policy to facilitate the development of tourism within the City of Colombo and increasing the number of tourists arriving to Sri Lanka in 2021.
The sentiments expressed by the Secretary shows that the government hopes to utilize the hotel’s strategic location being its close proximity to the harbour to its full potential and renovations were done as a way to bring the hotel to a profitable level while meeting industry standards at the same time.
No.820, Mount Cresent,Malabe,Sri Lanka