The days of Lanka Oberoi have ended with a payment of US$ 1.5 million by owning company, Asian Hotels to the international hotel chain.
Asian Hotel told shareholders on Tuesday that its long-standing dispute with managing company Oberoi Hotels Private Limited would be settled ldblquote in consideration for the payment of US$ 1.5 million.
rnThe settlement will also end a contract giving management rights to Oberoi, due to end in March 2009. rn
rnAsian Hotels will get full management control by March 31, 2003. rn
rnAsian Hotels Director Viran Perera told Lanka Business Online that a number of other international hotel chains were being looked at to fill the vacancy.
rnInternational chains including Marriott and Sheraton will be on the wish list.rn
rnGroundwork to tie down a new management company has already commenced, says Perera. rn
rnA name changed is also due. ldblquote We will be making an announcement in the coming weeks, and will phase out the transition over t