Bidders for the refurbishment and management of the Grand Oriental Hotel (GOH), owned by the Bank of Ceylon (BOC), can breathe a sigh of relief. According to officials, the short-listing process of applicants who have sent their Expressions of Interests (EOIs) to the BOC will begin in two months’ time.
The Ministry of Finance in January ordered to halt this process, citing complaints received by the Ministry on something ‘suspicious’ going on, officials said.
They added that the internal processes pertaining to valuations of GOH are being carried out and the estimated cost is some Rs 1 billion for refurbishment.
Both local and foreign firms, amongst them some big names, are among 16 that have expressed interest in the property, according to one official.
“All local conglomerates including John Keells Holdings, Aitken Spence and Cargills Ceylon are in the fray," the official said. Hong Kong- based Shangri-La, Raffles of Singapore, Australian chain Yates and India’s Royal Orchids are among the international hotel chains which sent EOIs.
He said that Indian hotel chains, along with European ones have also sent their bids looking at a management contract deal with an investor who can spend for refurbishment of this 200-room heritage hotel. |
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