Singapore’s HPL Investment Surge Into Sri Lanka
Despite the seemingly politically charged declaration of a State of Emergency this week in Sri Lanka, Singapore’s HPL Group look to be leading a foreign investment charge.
An agreement has reportedly been entered into between East West Properties PLC and HPL Hotels and Resorts Pte. Ltd. for the purchase of the Weligama Bay Marriott Resort and Spa.
Further news in Sri Lanka’s Daily Mirror has HPL tabling an offer for the historic gem the Grand Oriental Hotel that local market sources say could be a Four Seasons branded property.
In the meantime the local hospitality scene is buzzing over the recent opening of the new Colombo luxury Shangri-La hotel.