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Government takes over Hilton Colombo
- Thread starter lkdood
- Start date
good post lokkain srilanka there are loads of idiots and even in EK.. ppl hav completly 4gt abt kabul lankam.. kabul lanka was a big garment company which suplied many jobs to ppl of sl and it was close down after few months when the government took it..
SL need many multinational companies. big brand names.. then tourists come.. hiton is a big brand name...
apey rate inne lin madiyo..loke wenne , thiyenne monada kiyala wath danne nah... boruwata mewwwalin wenna hani danne nathuwa governement ekata ganna serma hondai kiyanwa...
Is there any government ofice tht workd really work efficently and nicely in sl.NOOOOOO.. its al privatised companies...
..
Hilton to discuss management deal
Hilton Hotels and Resorts says it will continue to manage Sri Lanka's Colombo Hilton until discussions start with owners following a government move to take over the land on which the hotel is located.
"We have been advised that the Sri Lankan Government has been noted as the new owners of the land and building of the hotel," Hilton Hotels and Resorts said in a statement.
"In due course Hilton representatives will meet with the relevant parties to discuss the change in ownership and in the meantime, Hilton will continue to maintain normal business operations at the hotel."
Hilton said it has a management contract dating back from over 20 years ago with Hotel Developers (Lanka) PLC, a listed firm which owns the building.
On Wednesday economic development minister Basil Rajapaksa was reported to have told parliament that the state had "fully taken over the hotel" because land lease rentals had not been paid to the government.
Hotel Developers is a majority state controlled firm, which has not filed accounts with the stock exchange for years.
The state-backed project has been embroiled in controversy and litigation with disputes including among promoters and contractors.
LBO
Hilton Hotels and Resorts says it will continue to manage Sri Lanka's Colombo Hilton until discussions start with owners following a government move to take over the land on which the hotel is located.
"We have been advised that the Sri Lankan Government has been noted as the new owners of the land and building of the hotel," Hilton Hotels and Resorts said in a statement.
"In due course Hilton representatives will meet with the relevant parties to discuss the change in ownership and in the meantime, Hilton will continue to maintain normal business operations at the hotel."
Hilton said it has a management contract dating back from over 20 years ago with Hotel Developers (Lanka) PLC, a listed firm which owns the building.
On Wednesday economic development minister Basil Rajapaksa was reported to have told parliament that the state had "fully taken over the hotel" because land lease rentals had not been paid to the government.
Hotel Developers is a majority state controlled firm, which has not filed accounts with the stock exchange for years.
The state-backed project has been embroiled in controversy and litigation with disputes including among promoters and contractors.
LBO
Wonder of Asia ... Next ??
Guys Hilton only manages the hotel. The building and the land is owned by a company who has given the management of the property to Hilton. The owning company owes the government Rs. 11 billion in rentals/lease etc. That is why treasury has confiscated the property. (The owning company itself is a part government owned). Hilton will continue to manage the property.
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