Sri Lanka to Divest Sinolanka and Helanco Hotels with Oceanfront Luxury

The Government of Sri Lanka is set to divest its complete shareholding in Canwill, the parent company to Sinolanka and Helanco Hotels. The divestiture, facilitated by Deloitte Touche Tohmatsu India LLP, aims to find investors for the Grand Hyatt Colombo, featuring 458 rooms and 100 serviced apartments.

The Government of Sri Lanka (GoSL) has announced plans to divest 100% of its shareholding in Canwill, the parent company of Sinolanka Hotels & Spa and Helanco Hotels & Spa. This move signifies a major decision to privatize these key hospitality assets.

The Ministry of Finance, Planning and Economic Development will oversee the divestiture process, with Deloitte Touche Tohmatsu India LLP (DTTILLP) appointed as the transaction advisor. The crown jewel of this divestiture is the Grand Hyatt Colombo, a landmark property located in the central business district.

Boasting 47 stories, 458 rooms, and 100 serviced apartments, the property offers unparalleled views of the Indian Ocean. Interested investors can access detailed information online, with expressions of interest due by 16th February 2026.

(With inputs from agencies.)