The Grand Hyatt
Colombo
Colombo 03
LOCATION
3.25 Acres
Land Extent
The Grand Hyatt
Situated in the heart of Colombo, the Grand Hyatt is a 5-star hotel in the final stages of development. It consists of 48 floors, 458 guest rooms, 100 serviced apartments, 12 specialty restaurants, 7 meeting rooms, a 1,000 pax ballroom, gym, pool, spa and in-house laundry. The Hotel covers approx. 1.2 million sq. ft. and is expected to be completed in full by Dec 2022, with partial commissioning of 200 rooms by Dec 2021. The present completion stands at 60% overall.
Project overview
A high potential project with key service propositions such as serviced apartments, which are in high demand for long stays with the ongoing Port City development. The Grand Hyatt competes with other top international operators in the city. With tourist arrivals expected to rise post pandemic, the hotel will be ready for occupation in December 2022.
- Estimated IRR: 13.5%
- Payback period: 8 years
- Scheduled commencement of commercial operations: December 2022
- Current status: All approvals obtained and under construction stage with nearing 60% completion
- Common infrastructure and utility availability: All information on structure and utility services are available and has obtained required approvals to comply with regulatory requirements
* Subject to Government Valuation
Project/ownership structure
100% ownership to the investor, JV, or Private Public Partnership considered. Should it be a PPP, a 49% divestment option to the investor will be followed.
Project incentives:
This project enjoys strategic development project (SDP) status with duty free and tax incentives provided.
Is considered to have the highest IRR achieved compared to the local hotel projects, considering the availability of 100 serviced apartments, which could be marketed for outright sale for investment recovery.
The option for obtaining management control could be considered
