Galadari Hotels Lanka signs BOI deal for refurbishment; 1st phase worth $ 33.5 m

Galadari Hotels Lanka PLC said yesterday it has successfully signed an agreement with the Board of Investment (BOI) of Sri Lanka as the first step towards the property’s refurbishment process.

Galadari Colombo has over the years built up an enviable reputation in the hospitality industry and proudly boasts of over 39 years of exceptional service.

The company has entered into two agreements which include the Hotel Development Services Agreement (HDSA) which will later be followed by a Hotel Management Agreement (HMA) with Radisson Hotels Asia Pacific Investments Ltd.

The property will go through a total transformation which will enable the hotel to set new standards solidifying its high competitiveness in the industry. A world-renowned architectural company based in Hong Kong will overlook the overall designing process of the property.

The first phase, which includes a project cost estimated at $ 33.5 million will include 200 rooms, restaurant outlets, guest lobby and common areas and a completely revamped hotel facade. The second phase will commence one year after the completion of phase 1.

After completion the hotel will see an elevated star class status.

Galadari said the BOI signoff is the first of a series of events that will be taking place as the hotel starts its new journey, which will ultimately lead to an engagement with Radisson Hotels Asia Pacific Investments Ltd. to manage Galadari Hotel Colombo under a new brand name.