Hotels (Commonwealth Union) _ Melco Resorts & Entertainment Limited (Melco) has unveiled a groundbreaking partnership with John Keells Holdings PLC to develop an integrated resort in central Colombo, Sri Lanka. With an investment exceeding $1 billion, the project, formerly known as the “Cinnamon Life Integrated Resort,” will now be rebranded as “City of Dreams Sri Lanka.”
City of Dreams Sri Lanka aims to set new standards in luxury hospitality, entertainment, and leisure within the region. The project promises exceptional architecture and design, featuring 800 hotel rooms, retail outlets, diverse dining options, MICE (Meetings, Incentives, Conferences, and Exhibitions) facilities, and more.
Melco’s local subsidiary has secured a 20-year casino license from the Sri Lankan Government. It will oversee the casino operations at City of Dreams Sri Lanka, managing the top five floors of the hotel under its Nuwa brand, offering ultra-high-end luxury accommodations.
Crucial commercial agreements have been recently concluded between Melco and John Keells, marking a significant milestone in the project’s progress. These agreements signify the green light for the commencement of casino fit-out, with an initial investment totaling around $125 million. Concurrently, the non-gaming facilities, including the Cinnamon Life hotel managed by John Keells, are in the final stages of development and are poised to be operational by the third quarter of 2024. Casino operations are scheduled to commence by mid-2025, with the potential for expansion based on performance metrics and prevailing market conditions.
Lawrence Ho, Chairman, and CEO of Melco, expressed enthusiasm for this landmark project, highlighting its potential to bolster tourism and economic growth in Sri Lanka. He emphasized the collaboration with John Keells and the Sri Lankan government, underscoring their shared commitment to making a positive impact on the local community and economy through City of Dreams Sri Lanka.Top of Form
