Hyatt Regency Colombo

Chinwi · 1 Hyatt Regency Colombo Thu Oct 18, 2012 1:21 pm

Chinwi

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Former Ceylionco Celestial Tower , owned and re-build by Sinolanka Hotels and Spa officially became the Hyatt Regency Colombo after signing the management agreement between the interested parties.

The much awaited agreement with Hyatt Hotels Corporation of USA gave another green signal to the investors in the particular sector.

The 43-storey huge venture, which will have 475 rooms and 90 luxury residential suites became a member of the prestigious Hyatt Brand taking our Colombo into a new dimension.

Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company .

The Company’s subsidiaries manage, franchise, own and develop hotels and resorts under the Hyatt®, Park Hyatt®, Andaz®, Grand Hyatt®, Hyatt Regency®, Hyatt Place® and HYATT houseTM brand names and have locations on six continents. HYATT house is changing its brand identity from Hyatt Summerfield Suites®. Hyatt Residential Group, Inc., a Hyatt Hotels Corporation subsidiary, develops, operates, markets or licenses Hyatt ResidencesTM and Hyatt Residence ClubTM. [ From Hyatt site]

Hyatt Regency Colombo Z_p-65-Construction

Hyatt Regency Colombo Z_p-65-Construction

This is the former Celestial Tower and they have not changed the superstructure design. Interior was re-designed completely.
Hyatt Regency Colombo Ceylinco_celestial

Hyatt Regency Colombo Ceylinco_celestial

Arena · 2 Re: Hyatt Regency Colombo Thu Oct 18, 2012 1:40 pm

Arena

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Thanks for sharing

There investments says how our country will be after 15 years. Don't listen to any body who Disrespect the economic prospect. All the big fellows are entering to the country in big scale specially in the hospitality sector. this is a the miracle we wanted. Take all necessary steps to be a good professional in future with out leaving the country. Small countries/ Companies can easily double their out put/Profit in a shorter time period than big fellows.

Al the best

Chinwi · 3 Re: Hyatt Regency Colombo Thu Oct 18, 2012 3:53 pm

Chinwi

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Amal Mudunkotuwa wrote:Thanks for sharing

There investments says how our country will be after 15 years. Don't listen to any body who Disrespect the economic prospect. All the big fellows are entering to the country in big scale specially in the hospitality sector. this is a the miracle we wanted. Take all necessary steps to be a good professional in future with out leaving the country. Small countries/ Companies can easily double their out put/Profit in a shorter time period than big fellows.

Al the best

You are very correct.

Yesterday, a person in a director level position in UAE based reputed construction company, which is among the biggest in the world, disclosed most of their clients are eying Sri Lanka after Shangri-La, ITC , Hyatt , Krrish etc. established their presence here.

He said this kind of people (the above list) will newer go somewhere if they have second thoughts about the future.

One year ago the same person instructed against my investment in the leisure sector in SL.
Yesterday he decided to release few millions to buy Hotel shares in CSE , I cannot disclose the stocks.

Good luck

WildBear · 4 Re: Hyatt Regency Colombo Thu Oct 18, 2012 4:09 pm

WildBear

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Chinwi wrote:

One year ago the same person instructed against my investment in the leisure sector in SL.
Yesterday he decided to release few millions to buy Hotel shares in CSE , I cannot disclose the stocks.

Good luck

No wonder, some people/group of people in this forum also advise invest in any thing but not in CSE. Twisted Evil

Jiggysaurus · 5 Re: Hyatt Regency Colombo Thu Oct 18, 2012 5:03 pm

Jiggysaurus

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Interesting comments on the Leisure sector.

Just today one of the Hemas listed hotels declared a Rs 5 dividend. Early sign of things to come in the future?

traderathome · 6 Re: Hyatt Regency Colombo Fri Oct 19, 2012 6:16 am

traderathome

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I think i am on the right thread here...whats the room occupancy current level for the overall hotel sector. Very Happy

i did see yesterday most hotels ended in appreciation than others sectors. Basketball

i personally feel the occupancy level is very high most part of the year which is good but at the same time they need to increase some more but must make sure not overly supplied..this could affect their topline and bottomline

Jiggysaurus · 7 Re: Hyatt Regency Colombo Fri Oct 19, 2012 9:36 am

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Throughout the year overall occupancy 60-70%, during the peak season 85-90%.

Redbulls

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Oct 19, 2012 (LBO) - Hyatt Hotels Corporation said it had inked a deal to manage a 42-floor hotel in Sri Lanka's capital Colombo under which will have 474 rooms and 84 serviced apartments, which will open in 2014.

The property owned by Sinolanka Hotels and Spa Private Limited will be branded a 'Hyatt Regency.'

"Sri Lanka continues to be a growing market, and we are excited to work with Sinolanka on this iconic project in Colombo," Ratnesh Verma, Senior Vice President - Real Estate and Development, Asia Pacific for Hyatt Hotels & Resorts said in a statement.

"Establishing our brand’s presence in key gateway cities like Colombo is an integral part of our strategy to drive preference for the Hyatt brand in the South Asian region.

"We believe the hotel’s excellent location and full range of services and dining options will meet the needs of both business and leisure travelers."

The building is one of the entities taken over by a controversial expropriation law, enacted last year, when its construction was halted due to collapse of a business group.

The building is now expected to open in 2014.

"We are pleased to work with Hyatt on the first Hyatt-branded hotel in Sri Lanka," Gamini Senarath, chairman of Sinolanka Hotels and Spa Private Limited was quoted as saying in the statement.

"Hyatt Regency Colombo is expected to be a flagship development for Sri Lanka, demonstrating the rapidly expanding opportunities in this country’s tourism sector."

Sri Lanka has seen a tourism boom with the end of a 30-year civil war in 2009. In 2012 around a million tourists are expected to visit the Indian Ocean island.
http://lbo.lk/fullstory.php?nid=1899612743