ITC Hotels’ Colombo facility records the first international check-in

The ITC Ratnadipa, the first foreign property of the Indian hotel major, is situated in close proximity to the historic home of famous colonial architect Geoffrey Bawa in Colombo. It consists of futuristic twin towers joined by a sky bridge. The building was opened on Thursday.

The ultra-modern steel and glass structure represents both much-needed development and the country’s transition from a colonial past to a contemporary present. At night, the area may easily pass for a Macau strip, since the twin skyscrapers coexist alongside the most global, Indian, and Sri Lankan hospitality brands on Galle Face.

“All these hotel brands in one line are now a symbol of Colombo, and the presence of ITC is symbolic of India’s commitment to Sri Lanka,” said Sri Lankan President Ranil Wickremesinghe during the unveiling. “India is an economic partner of Sri Lanka, and such investments are emblematic of India’s support to Sri Lanka, through thick or thin,” said Santosh Jha, the Indian high commissioner to Sri Lanka, echoing this.

The hotel’s grand opening was held in November 2014, with the president of Sri Lanka, PM Dinesh Gunewardena, as well as cabinet officials and members of parliament in attendance. The hotel was originally scheduled to open in 2017.

Constructed at an approximate cost of $500 million, the hotel is operated by WelcomHotels Lanka, an ITC subsidiary, and represents one of the organization’s most significant expenditures. ITC chairman and MD Sanjiv Puri claimed to have the best location in the capital city and explained that Colombo was an obvious choice for the diversified conglomerate’s first international hospitality venture because the region’s tourism industry is expanding at a never-before-seen rate. The property will primarily cater to MICE and have excellent conference and banqueting facilities.

ITC made a deliberate decision to go with the contemporary style, which Puri describes as a “triangular engineering marvel that enables spectacular views of the ocean.” However, the brand has always made a great splash with its luxury buildings, whether it’s the grand Grand Chola in the heart of Chennai, the sprawling Royal Bengal towers in Kolkata, the edgy Kohenur in Hyderabad, or the true township of Grand Bharat outside of Delhi.

The hotel is located in the lower tower, while the 132 Sapphire Residences, which Puri said will be for sale and would be maintained by the hotel, are located in the bigger tower. The concept of living in hotels has quickly gained traction since the outbreak. While some famous hotels have undergone renovations to include homes, others have included them from the beginning.

Ahasa One, the first sky bridge in south Asia, spans 55 meters above ground and connects the two towers of ITC Ratnadipa. It was built by Larsen & Toubro.

In addition to tax benefits, the project apparently obtained strategic investment designation from the Sri Lankan government. The project has been granted 5.86 acres of land and is not subject to restrictions on foreign currency.

ITC has been expanding rapidly, aiming to reach 200 properties in the next five years. In the last two years (January 2022–December 2023), the company established 22 properties, and in the following two, 25 more are planned, the majority of which will be management contracts. The demerger of its hotels vertical was authorized by ITC in August of last year, and a listing is anticipated in 15 months.

In addition to ITC, a number of hotel developments have recently launched in Sri Lanka. These include a Sheraton by Marriott in Colombo and a Hilton resort close to Yala National Park. According to sources, Harin Fernando, the minister of tourism, recently announced that the Intercontinental would be returning to the island country. Nearing completion is the Marriott’s Ritz Carlton, a three-tower complex situated near ITC Ratnadipa. The Indian hospitality company IHCL already manages one Vivanta property in Sri Lanka and two opulent hotels under the Taj brand.