Sri Lanka to di­vest lux­ury ho­tel firms

New Straits Times - - Business -

Sri Lanka yes­ter­day an­nounced plans to sell off two state-owned lux­ury ho­tel com­pa­nies fol­low­ing its bil­lion-dol­lar pri­vati­sa­tion of a loss-mak­ing port. Gov­ern­ment spokesman Ra­jitha Se­naratne said min­is­ters ap­proved the seek­ing of bids for a 51 per cent stake in Ho­tel De­vel­op­ers (Lanka) Plc, whose lux­ury ho­tel in Colombo is man­aged by Hil­ton. The gov­ern­ment will also sell all of Can­will Hold­ings (Pvt) Ltd, which owns a 49-floor build­ing that will op­er­ate as Grand Hy­att Colombo.

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