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Friday, 11 March 2011

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Hilton reps to meet authorities

Hilton representatives are to meet with the relevant authorities to discuss the change in the ownership of the Hilton Colombo Hotel, a statement said yesterday.


Hilton Colombo

Hilton Hotels and Resorts (Hilton) has a management agreement to operate Hilton Colombo on behalf of Hotel Developers (Lanka) PLC, from more than 20 years ago and this management agreement currently remains in place.

"We have been advised that the Sri Lankan Government has been noted as the new owners of the land and building of the hotel," the statement said.

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, the statement further said.

Meanwhile Hotel Developers (Lanka) Plc which owns the building on which Colombo Hilton is operated said the land sub-leased from a private party had been taken over by the state. The state land on which the building was put up has been sub-leased from Cornel and Company, a private firm, in 1984 in return for equity, Hotel Developers CSE filing said.

Cornel and Company had leased the land from Urban Development Authority (UDA). The firm was expected to pay the lease to the UDA.

CSE filing further said the UDA had repudiated the lease since rentals had not been paid from 1987 and the land had reverted back to the state.

The Government has fully acquired the Hilton Hotel in Colombo last week, Economic Development Minister Basil Rajapaksa said in Parliament on Wednesday. Government took over the Hilton Hotel since the agreement had lapsed last week, due to non-payment of instalments, he said.

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