Meanwhile, the Asian Hotels management is working to tie down a new management for the hotel before the end of the year, with invitations for quotations already sent out. rn
rnHotel officials are keen on attracting leading international chains to take over and build on the facilities offered at the city hotel. rn
rnAsian Hotels is also putting down the final details to take full control of the hotel by 31 March, well on track with its plans along with work to phase out the Oberoi brand. rn
rnThe days of Lanka Oberoi ended on January 2003 with a payment of US$ 1.5 million by owning company, Asian Hotels to the international hotel chain.
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rnAsian Hotel told shareholders in January 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. dblquote rn
rnThe settlement also ended a contract giving management rights to Oberoi, due to end in March 2009. rn
rnThe dispute took hold in 1996 when O