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Recently Renovated Grand Oriental Hotel Is Ready For Listing In The CSE
Posted 9,April

By Chaveendra Dunuwille

In Local News

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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.