“Shangri-La eyes third property in Sri Lanka”
Clarification
View(s): Shangri-La hotels has referred to a story in last week’s Business Times under the above headline and sent the following statement:“Regarding further expansion in Sri Lanka: Currently Shangri-La is focused on opening our Hambantota resort in June 2016 and Shangri-La Hotel, Colombo in 2017. At this time, the group is not eyeing a third property in Sri Lanka
Additionally, please note Shangri-La’s investment in the two projects is approximately US$720 million in total and not $2 billion as reported.”
Business Editor’s Note: There was a reference made to a further expansion and of furthering opportunities in the country by Shangri-La Hotel Group during the interview. We acknowledge the error in the investment figure.