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Colombo Sheraton Hotel targets global business elites

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Some of the Hotel’s interior facilities

By Ifham Nizam

The newly opened Sheraton Colombo Hotel caters mainly to business travelers across various global industries and markets, Sheraton Colombo General Manager Rahul Maini said. The hotel is part of Marriott International, reputed to be the world’s largest hotel chain.

Maini told The Island Financial Review that while Sri Lanka has seen a rise in tourism during the last 12 months, Colombo remains a major commercial hub in South Asia for corporate travel.

‘We have witnessed a strong uptick from this segment since opening doors. However, it has only been a few months since we launched and are observing a diverse mix of global guests. In the coming months, we shall be able to clearly identify visitors from corporate and leisure occupancy along with their geographic source markets, Maini noted.

Recently journalists who participated in a media walkthrough at the Sheraton Colombo had the opportunity to experience the hotel’s 320-rooms and other facilities located at Colombo 3.

The hotel which is complete with a Presidential Suite and other themed luxury suites along with a collection of four restaurant outlets, was originally scheduled to be launched in 2020. However, the COVID-19 pandemic and the subsequent economic crisis comprised an obstacle to such plans.

According to the General Manager, the architectural contract for Sheraton Colombo Hotel had been awarded to the leading global architectural design consultancy firm WS Atkins, which is also the designer and engineer for Burj Al Arab, the Address Downtown, Dubai Metro and the 2012 Olympic Games in London. The interior design contract was awarded to Catallo Associates of Singapore.

Rahul Maini

Maini added: ‘Marriott International takes corporate social responsibility and sustainability seriously, as conveyed through our 2025 Sustainability and Social Impact Goals aligned with the UN Sustainable Development Goals. Sheraton Colombo, as part of the Marriott family, aims to align with these goals.

‘Wherever we operate we aim to empower local communities through providing opportunities for education, employment and economic growth. Sustaining responsible operations is also a priority, with targets around ethical sourcing, waste reduction, and efficient use of natural resources, such as water and energy. As part of the Marriott family, Sheraton Colombo will follow suit by integrating these sustainability and social impact goals into our daily operations and business practices. Sheraton Colombo is dedicated to making positive community impact, driving social good, and minimizing environmental harm so that guests, employees and locals can feel good about choosing to stay with us.

‘Marriott’s commitment to heartfelt care, innovation and building a global community makes our hospitality truly unmatched. As part of this family, Sheraton Colombo inherits and lives up to these high standards.

‘Sheraton Colombo’s focus is on its prime, central location in Colombo’s business district, its contemporary design integrates local cultural elements. It has a variety of upscale dining options, amenities such as the Shine Spa and Sheraton Club lounge and event/meeting facilities. Importantly, our vision is to be a gathering place facilitating connections and community, striving to create a welcoming place for travellers seeking both productivity and belonging.’



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Business

Dialog delivers strong growth, stronger national contribution in FY 2025

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Dialog Axiata PLC announced, Friday 6th February 2026, its consolidated financial results (Reviewed) for the year ended 31st December 2025. Financial results included those of Dialog Axiata PLC (the “Company”) and of the Dialog Axiata Group (the “Group”).

Group Performance

The Group delivered a strong performance across Mobile, Fixed Line and Digital Pay Television businesses recording a positive Core Revenue growth of 16% Year to Date (“YTD”). Group Headline Revenue reached Rs179.6Bn, up 5% YTD, despite the continued strategic scaling down of low-margin international wholesale business. In Q4 2025, Revenue was recorded at Rs46.5Bn up 2% Quarter-on-Quarter (“QoQ”) and 2% Year-on-Year (“YoY”).

The Group Earnings Before Interest, Tax, Depreciation and Amortisation (“EBITDA”) reached Rs86.0Bn up 30% YTD supported by Core Revenue performance and Cost Rescaling Initiatives. On a QoQ basis Group EBITDA demonstrated a modest growth to record at Rs23.0Bn up 2% QoQ with an EBITDA margin of 49.5% in line with the Revenue performance. Group EBITDA margin reached 47.9% for FY 2025, up 9.2pp.

Group Net Profit After Tax (“NPAT”) reached Rs20.8Bn for FY 2025, up 67% YTD mainly resulting from robust EBITDA growth, despite higher tax and net finance costs. Normalized for forex impact, NPAT growth was recorded at +>100% YTD to reach Rs22.1Bn. On a QoQ basis NPAT grew 3% to reach Rs5.9Bn resulting from strong EBITDA performance.

On the back of strong operational performance, the Group recorded Operating Free Cash Flow (“OFCF”)

of Rs49.3Bn for FY 2025 up >100% YTD.

Dividend Payment to Shareholders

In line with the dividend policy and financial performance of the Group and taking into account the forward investment requirements to serve the nation’s demand for Broadband and Digital services, the Board of Directors of Dialog Axiata PLC at its meeting held on 6th February 2026, resolved to propose for consideration by the Shareholders of the Company, a dividend to ordinary shareholders amounting to Rs1.50 per share. The said dividend, if approved by shareholders, would translate to a Dividend Yield of 5.0% based on share closing price for FY 2025. The dividend so proposed will be considered for approval by the shareholders at the Annual General Meeting (AGM) of the Company, the date pertaining to which would be notified in due course.

Company and Subsidiary Performance

At an entity level, Dialog Axiata PLC (the “Company”) continued to be the primary contributor to Group Revenue (76%) and Group EBITDA (74%). Aided by sustained growth in the Data segment and cost-rescaling initiatives, Company revenue was recorded at Rs135.8Bn for FY 2025, up 18% YTD, EBITDA rose 32% YTD to reach Rs63.6Bn. On a QoQ basis, Q4 2025 Revenue was recorded at Rs34.8Bn, down 1% QoQ due to a reclassification of Hubbing Revenue, while EBITDA decline 1% QoQ to record Rs17.0Bn, largely attributable to network restoration costs and donations made in relation to the Cyclone Ditwah relief efforts. Furthermore, NPAT was recorded at Rs15.6Bn for FY 2025, up 41% YTD. Normalised for forex impacts, the company NPAT was up +>100% YTD to reach Rs17.0Bn. On a QoQ basis, Company NPAT was recorded at Rs4.5Bn, down 6% QoQ.

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Ceylinco Life’s Pranama Scholarships reach 25-year milestone

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Ceylinco Life has announced the launch of the 25th consecutive edition of its flagship Pranama Scholarships programme, marking a significant milestone in the company’s long-standing commitment to recognising and rewarding excellence among the children of its policyholders.

Under the 2026 programme, the life insurance market leader will present scholarships with a total cumulative value of Rs. 22.7 million, continuing a rewards initiative that has now been conducted without interruption for a quarter of a century. Since its inception, the Ceylinco Life Pranama Scholarships programme has benefitted 3,466 students across the country, representing a total investment of Rs. 240 million in nurturing academic achievement and outstanding performance in sports, arts and other extracurricular pursuits.

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Sri Lankans’ artistic genius glowingly manifests at Kala Pola ‘26

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The spirit of Sri Lanka as it was ably captured by an artist.

The artistic genius of Sri Lankans was amply manifest all over again at ‘Kala Pola ‘26’ which was held on February 8th at Ananda Coomaraswamy Mawatha Colombo 7; the usual, teeming and colourful venue for this annual grand exhibition and celebration of the work of local visual artists.

If there is one thing that has flourished memorably and resplendently in Sri Lanka over the centuries it is the artistic capability or genius of its people. It is something that all Sri Lankans could feel a sense of elation over because from the viewpoint of the arts, Sri Lanka is second to no other nation. With regard to the visual arts a veritable dazzling radiance of this inborn and persisting capability is seen at the annual open air ‘Kala Pola’.

A bird of Sri Lanka created from scraps of iron waste.

All capable visual artists, wherever they hail from in Sri Lanka, enjoy the opportunity of exhibiting their work at the ‘Kala Pola’ and this is a distinctive ‘positive’ of this annual event that draws numberless artists and viewers. There was an abundance of paintings, sketches and sculptures, for instance, and one work was as good as the other. Ample and equal space was afforded each artist. Its widely participatory and open nature enables one to describe the exhibition as exuding a profoundly democratic ethos.

Accordingly, this time around at ‘Kala Pola ‘26’ too Sri Lankans’ creative efforts were there to be viewed, studied and enjoyed in the customary carnival atmosphere where connoisseurs, local and foreign, met in a sprit of camaraderie and good cheer. Many thanks are owed once again to the George Keyt Foundation for the presentation of the event in association with the John Keells Group and the John Keells Foundation, not forgetting the Nations Trust Bank, which was the event’s Official Banking Partner. The exhibition was officially declared open by Chief Guest Marc-Andre Franche, UN Resident Coordinator in Sri Lanka.

By Lynn Ockersz

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