BOI agreement signed for US 30mn Cinnamon Red Kandy

Indra Traders (Pvt) Ltd. has partnered John Keells Hotels PLC to build a 160-room, 3-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 a part of the Cinnamon brand, the hotel property will be manged by Cinnamon Hotel Management Ltd.

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

The hotel will features 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.