Short Break

CEAT Kelani Holdings Managing Director Ravi Dadlani (right) and Lanka Ashok Leyland CEO Umesh Gautham exchange the OEM agreement

Resort and spa operator Banyan Tree says it is temporarily putting on hold its investment plans for Sri Lanka because of the countrys political crisis
It had been intending to spend a large chunk of the proceeds from its stock market listing next year in Sri Lanka, Singapores Channel News Asia reported late Tuesday.rn

rnBanyan Tree recently bought a majority stake in Beruwela Walk Inn from the John Keells Holdings Group. The Group manages the Deer Park Hotel and also signed up to manage a spa at the Colombo Plaza Hotel. Banayan Tree also had plans to develop two new luxury resorts.rn

rnBut while Sri Lanka is slipping out of view for now, the groups executive chairman Ho Kwon Ping is eyeing opportunities elsewhere.rn

rnBanyan Trees resorts are known as romantic quiet retreats but grappling with political uncertainties is not something new for the group.rn

rnIn 1993, construction was just about to start in Sri Lanka for its first hotel, but that had to stop after the countrys President was assass

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