Company filings and market news from across Sri Lanka's stock market.
FACETS 2025, the 31st Gem & Jewellery Show, will run 4–6 Jan 2025 at the Cinnamon Grand Colombo and is expected to attract international buyers and visitors, likely boosting hotel demand in Colombo and other tourist areas.
Cinnamon Hotels & Resorts will open Kandy Myst by Cinnamon in early 2025, a 215-room hotel in Kandy (management partnership with Indra Traders). The property, billed as the largest inventory in Kandy, aims to boost the city’s tourism offering and local economic activity.
Gem Sri Lanka 2025 will run 7–10 January at Cinnamon Bentota Beach to connect international buyers with Sri Lankan gem traders and boost the gem and tourism sectors. Organisers also unveiled the GSLFAIR app to streamline buyer-seller connections.
Sri Lanka hosted a national pavilion at the World Trade Expo 2024 in Mumbai to promote trade and tourism, where companies showcased value-added cinnamon, coconut, cocoa products, dehydrated fruits and Ceylon tea and established business contacts for future collaboration.
SLITHM and SLCB Chairman Dheera Hettiarachchi criticised holding World Tourism Day 2024 nearly a month late and urged future celebrations be timely, more inclusive and held across different destinations rather than only in Colombo. He said future events should align with the government's people, planet and profit policy.
John Keells Group launched Cinnamon Life at City of Dreams Sri Lanka, a $1.2bn development opening today with 687 rooms and event venues, and a 113-key Nuwa hotel due mid-2025. The Group expects the full project to generate over 20,000 direct and indirect jobs.
Cinnamon Air will operate two daily flights from 1 Nov 2024 linking Kandy and Sigiriya with Koggala and Hambantota until 30 Apr 2025, cutting cross-country travel times to 40–50 minutes and targeting winter foreign tourist demand.
Kandy Hotels Company (KHC) will refurbish Hotel Suisse Kandy at an estimated cost of Rs. 500 million using the Group's cash reserves, with the hotel due to reopen in December 2024. Ceylon Hotels Corporation PLC holds a 70% stake in KHC.
President Ranil Wickremesinghe pledged Sri Lanka will pursue the SDGs and reach net zero emissions by 2040, highlighting renewables, agribusiness transformation and sustainable tourism as key measures. He also announced plans for an International Climate Change University, four technical universities and efforts to attract global finance.