Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into a management agreement with Sinolanka Hotels and Spa Private Limited for a Hyatt Regency hotel in Colombo, Sri Lanka. Hyatt Regency Colombo will be the first Hyatt-branded hotel in Sri Lanka.
“Sri Lanka continues to be a growing market, and we are excited to work with Sinolanka on this iconic project in Colombo,” said Ratnesh Verma, Senior Vice President - Real Estate and Development, Asia Pacific for Hyatt Hotels & Resorts. “Establishing our brand’s presence in key gateway cities like Colombo is an integral part of our strategy to drive preference for the Hyatt brand in the South Asian region. We believe the hotel’s excellent location and full range of services and dining options will meet the needs of both business and leisure travelers. It is our privilege to work with Sinolanka and be part of the government's initiatives to develop tourism infrastructure in Sri Lanka.”
“We are pleased to work with Hyatt on the first Hyatt-branded hotel in Sri Lanka,” said Gamini Senarath, Chairman of Sinolanka Hotels and Spa Private Limited. “Hyatt Regency Colombo is expected to be a flagship development for Sri Lanka, demonstrating the rapidly expanding opportunities in this country’s tourism sector.”
Expected to open in 2014, Hyatt Regency Colombo will be a 42-floor hotel on Galle Road, which is one of the arterial roads in the central business district (CBD) area. The hotel will feature 475 guestrooms and 84 serviced apartments, as well as a lobby lounge, an all-day dining, multi-cuisine restaurant, three specialty restaurants, a bar, eight spa treatment rooms, a fitness center, a swimming pool, and a Regency Club lounge. Additionally, the hotel will offer more than 17,000 sq ft (1,579 sq m) of enclosed meeting space, including a 7,500 sq ft (696 sq m) ballroom.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV