- Last Update 2025-05-01 19:36:00
Finance Ministry justifies governments decision on divesture of Hilton and Hyatt hotels
The Finance Ministery has justified the government's decision to divest the Hilton and Hyatt hotels.
In a statement the Ministry said the Hyatt hotel had cost over Rs 15 billion to many state and non-state organisations. It was due to this reason that the government had to divest the Hyatt hotel without being a burden to the state.
The release also added that the Hilton Hotel needed to upgrade its hotel rooms 'to reach its full potential'.
Meanwhile, the Lazard Asia of Singapore and MTI Consulting of Sri Lanka, which possess experience in divesting hotels, have been selected as financial advisers, with the approval of the Cabinet, for the sale of the two state-owned hotels.
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- April 25, 2025 - 171 - 0
Rs 30 million worth tabs and mobiles left behind at duty free shop
Customs have detected 228 mobile phones and tabs valued at over Rs 30 million left behind in the duty free shopping complex at the Banaranaike International Airport today, Customs officials said.
- April 26, 2025 - 146 - 0
Your Sunday Times highlights for this week
Read this week’s Sunday Times for your interesting articles including the ’’5th Column’’.
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