Shangri-La Sets Sights on Sri Lanka
Hong Kong-based luxury hotel group Shangri-La has purchased 10 acres of government land in Sri Lanka to build a luxury resort, slated to open in 2015.
The resort will be located between the Galle Face Green promenade and Beira Lake. The hotel group will invest $408m (£256m) on the project. Shangri-La is also planning to open a hotel in Hambantota on the southern coast of Sri Lanka, slated to open in 2013.
The World Travel Market 2011 Industry Report highlighted Sri Lanka as one of the SLIMMA countries (Sri Lanka, Indonesia, Mexico, Malaysia, Argentina) – predicted to enjoy generous economic growth, and a resulting buoyant tourist influx in forthcoming years.
Sri Lanka is successfully re-emerging on the tourism scene after years of civil unrest, investing in infrastructure, and promoting its natural beauty, so other luxury hospitality chains are likely to follow in Shangri-La’s footsteps imminently.