Spence severs Six Senses deal

Monday, 7 January 2013 00:00 - - {{hitsCtrl.values.hits}}

Aitken Spence Plc has decided to terminate the agreement entered into between Aitken Spence Hotel Holdings Plc and Six Senses Resorts and Spas, the Favourite Group and associates for a new property in the South.

The deal, signed in September 2010, was to establish the first Six Senses property in Sri Lanka as a BOI-approved 50:50 joint venture worth $ 35 to 40 million.

The project was to comprise a Six Senses Ahungalla Resort and Space as well as the beach front residential villas on a 10.5 acre plot, both adjoining Heritance Ahungalle and on a 27-acre island nearby.

The project was to have a total of 40 one-bedroom villa suites and 14 two-bedroom beach front residential villas in Ahungalla, as well as 15 island villas.