Radisson Hotel Asia Pacific Investments has transferred its rights in Galadari Hotels (Lanka) PLC to its affiliate, Radisson Hospitality Belgium BV, the Colombo seafront hotel disclosed to the Colombo Stock Exchange, EconomyNext reported.
Galadari Hotels entered into a Hotel Development Services Agreement and a Hotel Management Agreement with Radisson Hotel Asia Pacific Investments Pte Ltd in 2023.
“The Company wishes to inform that, Radisson Hotel Asia Pacific Investments Pte. Ltd has assigned its rights and obligations under the aforesaid agreements to its Affiliate, Radisson Hospitality Belgium BV, with effect from 01st January 2025,” the disclosure said.
The 450-plus room property overlooking Galle Face Green and the Indian Ocean is to be operated under the “Radisson Blu Hotel Galadari Colombo” brand once an ongoing renovation is completed.
The reassignment from the Singapore-based Asia Pacific arm to the Belgian unit of Radisson Hotel Group is a contractual reorganisation that does not change the underlying ownership of the hotel or the planned brand conversion, but routes the franchisor relationship through Radisson’s European holding entity. The disclosure date on the Colombo Stock Exchange is June 4, 2026, although the effective date of the assignment is January 1, 2025.
Galadari Hotel is one of Colombo’s largest waterfront properties and sits beside the redeveloping Galle Face stretch alongside the Port City Colombo zone now attracting $900 million of FDI commitments in five months. The Radisson Blu rebrand will add a second international upper-upscale flag to the Galle Face corridor when the renovation is complete.
