#Sri Lanka #Colombo #Canwill Holdings #Sinolanka Hotels

Introduction

The Government of Sri Lanka (GoSL) has announced a significant move in its ongoing economic strategies by planning the divestment of Canwill Holdings (Pvt) Ltd, which is the parent company of Sinolanka Hotels & Spa (Pvt) Ltd and Helanco Hotels & Spa (Pvt) Ltd. This step is part of a broader initiative to streamline its investments and improve the efficiency of its state-owned enterprises.

Background of Canwill Holdings

Canwill Holdings operates within the competitive hospitality sector in Sri Lanka, primarily managing renowned establishments such as the Sinolanka chain. This divestment plan is expected to attract both local and international investors, eager to seize opportunities in one of the country's most lucrative industries. With Colombo emerging as a significant tourist destination, the demand for high-quality hotels and services continues to grow, thereby boosting the attractiveness of such investments.

Details of the Divestment

The divestment process will be executed through the Ministry of Finance, Planning, and Economic Development of Sri Lanka. To ensure a smooth transaction, the GoSL has appointed Deloitte Touche Tohmatsu India LLP (DTTILLP) as the transaction advisor. Investors interested in participating in the process are invited to submit their expressions of interest (EOIs) through the official portal provided by the government. Details, including prerequisites and submission instructions, can be accessed online.

The Properties on Offer

Among the most significant assets being divested is a prime property located in Colombo’s Central Business District. This high-end hotel, which meets international five-star standards, features an impressive 47-story structure that houses 458 luxurious rooms and 100 serviced apartments. Encompassing an area of 2.32 acres, the hotel offers breathtaking views of the Indian Ocean and key landmarks including the Colombo Port, Galle Face Green, and the Lotus Tower. The investor selected to acquire Canwill Holdings will also be responsible for completing remaining construction works on this property, ensuring it becomes a core asset in the city's hospitality landscape.

Strategic Importance

The stakeholders behind this venture see this divestment as an opportunity to enhance the operational framework of Canwill Holdings and optimize its performance in a blossoming market. As tourism across Sri Lanka continues to recover and flourish post-pandemic, this divestment could be a turning point that redefines hospitality in Colombo, enticing international travelers and business visitors alike.

Call for Expressions of Interest

The deadline for submissions of expressions of interest is set for February 16, 2026, at 2:00 PM Sri Lanka Standard Time (1400 hours). Interested parties can submit their proposals through the official government website, where the full requirements and application forms can be found. With such strategic undertakings, the GoSL continues to display its commitment to rejuvenating the country's economy through fiscally responsible initiatives.

Conclusion

As Sri Lanka embarks on this new chapter marked by significant divestments, including Canwill Holdings, the future looks promising for both the government and potential investors. With a vibrant hospitality sector and a growing number of international arrivals, the potential for returns on investments in this space is enormous. Observers will be keen to see how the competitive landscape unfolds as investors position themselves to capitalize on these burgeoning opportunities in Sri Lanka’s hospitality scene.