Spence severs Six Senses deal

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.