Sri Lanka is still in negotiations regarding the sale price of Hotel Developers Lanka Ltd, which owns the Colombo Hilton, according to the State-Owned Enterprises Restructuring Unit (SOERU).
While four parties were pre-qualified, only Melwa Hotels & Resorts (Pvt) Ltd submitted a financial bid, as reported earlier in July. Negotiations with Melwa are ongoing, and the final price has yet to be determined.
The evaluation of offers is conducted by two independent Cabinet-appointed committees: the Special Project Committee and the Special Cabinet Appointed Negotiation Committee (SpCANC). The SpCANC has the authority to engage further with the proposer during this process.
The SOERU’s role is to implement and coordinate the activities of these committees, ensuring transparency and credibility in line with the Divestiture Guidelines.
The sale includes 4.61 acres of land leased until 2111. An additional 1.875 acres, which encompasses two restaurants, a swimming pool, a gymnasium, and some parking facilities, will be allocated for an extra 4.4 billion rupees as per a Cabinet decision from March 21, 2022.