Sri Lankan government grants approval to Shangri-La group to open hotel in Colombo

The Sri Lankan government has Tuesday granted approval to the world renowned Shangri-La group to set up a luxury hotel in the country.

Treasury Secretary Dr. P.B. Jayasundara has told the media that the Board of Investment (BOI) has granted approval to Asia Pacific's leading luxury hotel group, Hong Kong-based Shangri-La Hotels and Resorts, today to build a 500 room hotel in Colombo.

Dr. Jayasundara has said that the hotel project would amount to an investment of US$ 500 million.

The Shangri-La group has already invested US$ 75 million to acquire land and other necessary resources for the project.

According to Dr. Jayasundara, the integrated hotel is to be called Shangri-La Lanka Hotel Limited.