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Shangri-La Hotels and Resorts Acquires Land For Development of New Multi-use
Complex Including a 500-key Luxury Hotel in Colombo, Sri Lanka

Scheduled to Open in Early 2014



HONG KONG, Jan. 4, 2011 -- Hong Kong-based Shangri-La Asia Limited announced the purchase of six acres of government land facing the Galle Face green promenade, a prominent landmark in Colombo, Sri Lanka. The development will be a multi-use complex with high-end retail facilities, deluxe apartments and a 500-key luxury hotel to open in early 2014. The purchase marks the entry of the hotel group into Sri Lanka, often referred to as "The Pearl of the Indian Ocean."

Shangri-La is also planning to develop a second property, a 300-key city resort on approximately 100 acres of land in Hambantota, on the southern coast of Sri Lanka, to open in 2013.

"Sri Lanka is a country of unsurpassed natural beauty, rich in cultural heritage, and above all it is well recognised for its warm and hospitable population. The local government is fully committed to rebuilding the economy following the end of three decades of conflict and we believe that Shangri-La will be able to assist in positioning the country as a prime global tourist destination. Both Shangri-La hotels strategically fit into the group's ongoing expansion plans to link the Indian subcontinent and our South East Asia developments," said Greg Dogan, president and chief executive officer of Shangri-La International Hotel Management Ltd.

"The entry of the Shangri-La global network is an endorsement of the economic prospects that Sri Lanka has gained since His Excellency the President, Mahinda Rajapaksa ending the long drawn conflict, and accelerating long term infrastructure development, through the creation of a stable economic environment while promoting a rural-centric development strategy. It also marks the beginning of a new journey of a high level of Foreign Direct Investment that Sri Lanka needs in order to accelerate an economic growth in excess of eight percent and position Sri Lanka as an emerging middle income country in Asia," commented the Secretary to the Treasury. The Secretary also confirmed that several of the world's leading investors have expressed interest to undertake a wide range of investment activities in 2011.

Hong Kong-based Shangri-La Asia Limited, one of the world's premier hotel companies, currently owns and/or manages 70 hotels under the Shangri-La and Traders brands, with a room inventory of over 30,000. Over almost four decades, the group has established its brand hallmark of "hospitality from the heart." The group has a substantial development pipeline with upcoming projects in Austria, Canada, mainland China, India, Macau, Malaysia, Philippines, Mongolia, Russia, Qatar, Turkey and United Kingdom. For more information and reservations, please contact a travel professional or access the website at www.shangri-la.com
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Contact: 

Eva Lui
Public Relations Manager
Shangri-La Hotels and Resorts
Tel: +852 2599-3307
Fax: +852 2599-3000
E-mail: eva.lui@shangri-la.com
Website: http://www.shangri-la.com/

 
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Also See: Shangri-La Hotels and Resorts Opens 117-room Traders Hotel, Male, Maldives / November 2010

Shangri-La Breaks Ground for a New City Resort in Diqing, Shangri-La County, Yunnan Province; It is Said the Description of Shangri-la in James Hilton’s Lost Horizon Was Based on Diqing / September 2010

Shangri-La Hotels & Resorts Open the 278-room China World Summit Wing, Beijing Atop the China World Tower / August 2010
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