The new Board of Directors appointed to overlook operations of the State-owned Grand Hyatt Hotel holdings company, Canwill Holdings Ltd., has assured that construction work of the project would proceed unimpeded.
Canwill Holdings was transferred over to the Ministry of Public Enterprise Development headed by subject Minister Kabeer Hashim and Deputy Minister Eran Wickramaratne from the Ministry of Finance during the Cabinet restructuring in September.
The new Board of Directors has already fused the expertise of professionals from a wide ranging strata to ensure that the project would be completed as scheduled in the year 2017 devoid of any further delays.
All tenders pertaining to the construction of the project have already been published in newspapers and are under evaluation by the Board.
The new Board of Directors is tasked with expediting work on the project, reducing waste and procuring returns on the invested share capital.
Hyatt International, a global brand, is expected to attract high-end vacationers and top-level businessmen, further enhancing the country’s already-booming tourism industry and foreign investment opportunities.
The project will be developed as a high-end hotel complex with modern amenities and facilities and will comprise 43 storeys. Once it is completed, Hyatt Regency Colombo will be the tallest hotel complex in Sri Lanka.