Hilton cake for Sheraton?

A cake from Hilton was at hand to celebrate the realization of the deal between the US-based global giant Starwood Hotels and Resorts Worldwide, the owners of the internationally-famous Sheraton brand, on Friday and Lanka Hotels and Residencies Ltd and its promoters Greenwater Resorts Ltd., of India and Eurcon Building Industries FZC of the UAE, together with their Sri Lanka partners.

The consortium will be investing $ 80 million to build the 306 room Sheraton hotel opposite the Galle Face Green in Colombo 3. It is scheduled to open in October 2013. “This will be the first world-known international brand hotel which will become operational since the end of the war,” the promoters said yesterday after the signing of the agreement. Here Starwood Hotels and Resorts Vice President, Acquisitions and Development Nikhil Manchharam (right) Lanka Hotels & Residencies (Pvt) Ltd. Chairman Gamini Gunaratne (left), Directors Ravi Lad and Nandkishor Chaturvedi all smiles after signing the agreements in the presence of Treasury Secretary Dr. P.B. Jayasundera and his officials – Pic by Upul Abayasekara