In a monumental collaboration set to redefine luxury hospitality and entertainment in Sri Lanka, Melco Resorts & Entertainment Limited (Melco) has announced a groundbreaking partnership with John Keells Holdings PLC, one of Sri Lanka’s premier conglomerates. This partnership marks a significant milestone in the development of an integrated resort in central Colombo, boasting an investment exceeding $1 billion.
The City of Dreams Sri Lanka
Redefining Luxury Hospitality: The Birth of City of Dreams Sri Lanka
Formerly known as the “Cinnamon Life Integrated Resort,” the project has undergone a remarkable transformation and will now be rebranded as “City of Dreams Sri Lanka.” This integrated resort is poised to set new standards in luxury hospitality, entertainment, and leisure, offering a diverse array of amenities and experiences designed to captivate visitors from around the globe.
Unveiling the Vision: Exceptional Architecture and Design
City of Dreams Sri Lanka promises to captivate guests with its exceptional architecture and design, blending seamlessly into the vibrant landscape of central Colombo. The resort will feature 800 hotel rooms, complemented by an array of retail outlets, dining destinations, and state-of-the-art MICE (Meetings, Incentives, Conferences, and Exhibitions) facilities, catering to the diverse needs of discerning travelers and business delegates alike.
Securing Regulatory Approval: Melco’s Local Subsidiary Obtains Casino License
Melco’s local subsidiary has successfully secured a 20-year casino license from the Sri Lankan Government, paving the way for the establishment of world-class gaming facilities at City of Dreams Sri Lanka. Under Melco’s stewardship, the casino operations will uphold the highest standards of integrity and responsible gaming practices, offering guests an unparalleled gaming experience in a safe and regulated environment.
Elevating the Guest Experience: Nuwa Brand to Redefine Luxury Accommodation
As part of its commitment to delivering unparalleled luxury experiences, Melco will manage the top five floors of the hotel under its prestigious Nuwa brand. These ultra-high-end luxury rooms will epitomize sophistication and elegance, offering guests a sanctuary of indulgence amidst the bustling energy of central Colombo.
Key Milestones and Commercial Arrangements: A Testament to Collaboration
Key commercial arrangements between Melco and John Keells Holdings PLC have been finalized, setting the stage for the commencement of casino fit-out activities. With an initial investment of approximately $125 million, the casino fit-out represents a significant step towards realizing the vision of City of Dreams Sri Lanka as a premier destination for entertainment and leisure.
Anticipated Opening and Expansion: A Glimpse into the Future
Non-gaming facilities, including the Cinnamon Life hotel managed by John Keells, are nearing completion and are expected to open their doors to guests in the third quarter of 2024. Meanwhile, casino operations are slated to commence in mid-2025, with the potential for further expansion based on performance and market conditions. This phased approach reflects Melco’s strategic vision and commitment to long-term sustainability and growth.
Visionary Leadership: Lawrence Ho’s Optimism and Commitment
Lawrence Ho, Chairman and CEO of Melco, expressed his excitement about the transformative potential of City of Dreams Sri Lanka. He underscored the collaborative efforts between Melco, John Keells Holdings PLC, and the Sri Lankan government, emphasizing their shared commitment to driving tourism and economic growth in Sri Lanka. This landmark project stands as a testament to Melco’s unwavering dedication to creating positive social and economic impact in the communities it serves.
Conclusion: A Landmark Partnership
In conclusion, the partnership between Melco Resorts & Entertainment Limited and John Keells Holdings PLC represents a transformative moment in Sri Lanka’s hospitality landscape. City of Dreams Sri Lanka is poised to redefine luxury hospitality and entertainment, offering an unparalleled blend of sophistication, excitement, and world-class amenities. As construction progresses and anticipation builds, the future of City of Dreams Sri Lanka shines brightly, promising a new era of luxury and leisure in the heart of Colombo.
FAQs About City of Dreams Sri Lanka Partnership
1. What is the significance of the partnership between Melco Resorts & Entertainment Limited and John Keells Holdings PLC?
The partnership between Melco and John Keells Holdings PLC signifies a monumental collaboration aimed at developing City of Dreams Sri Lanka, a transformative integrated resort in central Colombo.
2. What amenities will City of Dreams Sri Lanka offer to its guests?
City of Dreams Sri Lanka will boast 800 hotel rooms, retail outlets, dining options, MICE facilities, and more, promising a diverse range of experiences for visitors.
3. How has Melco’s local subsidiary contributed to the project?
Melco’s local subsidiary has secured a 20-year casino license from the Sri Lankan Government, enabling the establishment of world-class gaming facilities at City of Dreams Sri Lanka.
4. What brand will manage the top floors of the hotel at City of Dreams Sri Lanka?
Melco will manage the top five floors of the hotel under its prestigious Nuwa brand, offering guests ultra-high-end luxury accommodation options.
5. What is the timeline for the opening of City of Dreams Sri Lanka?
Non-gaming facilities, including the Cinnamon Life hotel managed by John Keells, are expected to open in the third quarter of 2024, with casino operations slated to commence in mid-2025.
6. How much investment has been allocated for the casino fit-out at City of Dreams Sri Lanka?
The casino fit-out at City of Dreams Sri Lanka represents an initial investment of approximately $125 million, underscoring the commitment to delivering world-class gaming experiences.
7. What are the long-term prospects for City of Dreams Sri Lanka?
City of Dreams Sri Lanka holds immense potential for further expansion based on performance and market conditions, reflecting Melco’s strategic vision for sustainable growth.
8. How does the partnership between Melco and John Keells contribute to Sri Lanka’s economy?
The partnership between Melco and John Keells is poised to drive tourism and economic growth in Sri Lanka, creating positive social and economic impact in the region.
9. Who expressed optimism about the partnership and its potential impact?
Lawrence Ho, Chairman and CEO of Melco, expressed excitement about the transformative potential of City of Dreams Sri Lanka, highlighting the collaborative efforts and shared commitment to success.
