Sri Lanka's Bank of Ceylon to build a 5 star Diamond Hotel of 500 rooms

Bank of Ceylon, a Sri Lanka state owned bank has planned to build a 5 star Diamond Hotel which will have 500 rooms after the completion of the three stages.

The hotel will be developed in Grand Oriental Hotel owned by the Bank of Ceylon and adjoining lands owned by the Police Department which are situated in prime land in Colombo Fort.

The heritage outlook of the 170 year old colonial era Grand Oriental Hotel is to be safeguarded in the development.

Bank of Ceylon expects US $ one billion investment in the public private partnership (PPP) basis.

Bank of Ceylon has prepared a comprehensive redevelopment project proposal in this regard.

Grand Oriental Hotel came into being in 1870. In 1954, it was handed over to the Bank of Ceylon following negotiations for a price of Rs. 6, 250,000. In 1963, the hotel was renamed as Hotel Taprobane. The re-designing was undertaken by famous architect Mr. Geoffrey Bawa in 1966, which saw the birth of the restaurant – the Harbour room, which overlooked the Colombo port.