BOI agreement signed for US $ 29mn Cinnamon Red Kandy

BOI Chairman Susantha Ratnayake formally presents certificate of registration to Indra Hotels and Resorts Kandy (Pvt.) Ltd Chairman Indra Silva

To be completed by mid-2022
Indra Traders (Pvt.) Ltd has partnered John Keells Hotels PLC to build a 160-room, three-star, lean luxury hotel in Kandy, with an investment of US $ 29.32 million.

The hotel is expected to be completed by mid-2022.

As part of the Cinnamon brand, the hotel property will be managed by Cinnamon Hotel Management Ltd.

The investment agreement with regards to the property was signed between Indra Hotels and Resorts Kandy (Pvt.) Ltd and the Board of Investment (BOI) of Sri Lanka.

The hotel will feature signature services, facilities and offerings, including an expansive rooftop bar and swimming pool, as well as a restaurant that will serve local and international cuisine on both buffet and à la carte basis. 

Cinnamon Hotels & Resorts initiated the lean luxury concept and segment to Sri Lanka in 2014 with Cinnamon Red Colombo. With the addition of this new property in the hill capital, Cinnamon Red Kandy will become the first and only Leed Gold-certified hotel in Kandy.