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Government+plans+to+sell+shares+of+two+star+class+hotels+in+Colombo
Saturday, 13 October 2018 - 18:59
Government plans to sell shares of two star class hotels in Colombo
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According to a report from Reuters, Sri Lanka plans to put two state-owned hotel companies up for sale within the next six months in a sale that could raise 500 million dollars.

The news report was published based on a statement made by a state minister.

The government began a search for investors in January for the Grand Hyatt Colombo and for a 51 percent stake in Hilton Colombo which runs under a management contract, according to the report by Reuters.

However, when contacted by our news team, the relevant state minister noted that the government does not plan to sell these properties and added that the government hopes to divest its holdings through a public share issue.

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