Sampath Bank PLC and Hotel Developers (Lanka) Limited (owner of Hilton Colombo) recently signed a facility agreement to finance the ongoing guest room Refurbishment Project of the landmark ‘Hilton Colombo’ Hotel located in the heart of Colombo. This is the first major revamp of the Hotel property since its inception in 1987. It was rolled out under two phases with Phase-I being implemented successfully through 2014 – 2017. Phase-II covers the completion of all public areas followed by the refurbishment of 273 rooms with corridors, which commenced in 2020 and is scheduled to be completed by end of 2023. The financing package was structured and offered by the Corporate Finance division of the Bank.

Representing Hotel Developers (Lanka) Ltd was Mr Upul Dharmadasa – Chairman and Mr Shamahil Mohideen – COO and Sampath Bank was Managing Director – Mr Nanda Fernando and Mrs Ayodhya Iddawela Perera – Managing Director Designate, as well as senior staff of the two institutions.

Speaking at the event, Mr Fernando, Managing Director, Sampath Bank PLC expressed that it was indeed a pleasure and privilege for the Bank to partner with Hotel Developers (Lanka) Ltd in their journey to revamp the iconic city hotel managed under the world renowned ‘Hilton’ brand. He went on to state that as a responsible corporate citizen and one of the largest commercial banks in Sri Lanka, Sampath Bank strives to assist in the development of country’s tourism sector, being one of the forerunners generating much needed foreign currency for the country as well as creation of jobs, contributing towards economic revival. Mr. Fernando said that Sampath Bank goes beyond being a mere financier, but also partners with its clients offering a full spectrum of solutions ranging from cash management, card solutions to digital banking to name a few.

While thanking and appreciating the cooperation extended by Sampath Bank, Mr. Dharmadasa, Chairman of Hotel Developers (Lanka) Ltd went on to state that, Sampath Bank partnering in the financing is an important milestone to complete the renovation  of the iconic Hilton Colombo Hotel which will no doubt boost the quality of service and revenue potential of the property.  He also stated that it was a bold decision that the company had taken, keeping immense confidence on the government initiatives for the economic recovery. The company was also   one of the few to have initiated such an upgrade during the most challenging period of the economy, with a forward-thinking mindset that the property should be well prepared to take on the challenges and market demand with the much-expected industry revival. He also stated the important role the tourism industry would play in the economy which is now in recovery mode. The upgrade will no doubt provide a boost to the industry with preparation to serve better in the future.

seated from left to right; Mr Shamahil Mohideen – COO of Hotel Developers, Mr Upul Dharmadasa - Chairman of Hotel Developers, Mr Nanda Fernando – Managing Director of Sampath Bank, Mrs. Ayodhya Iddawela - Managing Director Designate of Sampath Bank, standing from left to right; Mrs Inoka Gajanayake – Manager Legal (Corp. Finance) of Sampath Bank, Mr T. Wotson – Finance Manager  of Hotel Developers, Mrs Sajani Abeyesekera – Chief Manager Corporate Finance of Sampath Bank, Mr Chamila Ekanayake – Country Director Finance of Hilton Sri Lanka, Mr Jayantha Sooriyabandara – Chief Internal Auditor of Hotel Developers, Mr Jude Wickramaratne – CFO of Hotel Developers, Ms Dulsiri Jayasinghe – AGM Special Projects & Syndications, Mr Kusal De Silva – AGM Corporate Finance, Mr Dharshin Pathinayake – AGM Card Centre, Mr Sampath Wickramasinghe – Relationship Manager and Mr Pasan Dissanayaka – Snr Relationship Manager of Sampath Bank.