News & market updates

Aitken Spence Hotel Holdings PLC appointed C.M.S. Jayawickrama as Managing Director effective 1 April 2026. He was previously an Executive Director, is MD of Aitken Spence Hotel Managements Ltd and has over three decades' experience in the group's hotel operations.

SLID held a directors' accountability session on Sri Lanka's PDPA on 30 Jan 2026, warning that stronger enforcement increases regulatory, financial, reputational and personal risks for boards. A repeat session is scheduled for 5 Mar 2026.

Dr. Parakrama Dissanayake has been appointed Chairman of the Sri Lanka Ports Authority (his third stint) and has resigned as Deputy Chairman and Managing Director of Aitken Spence PLC to take the new post on an honorary basis.

The Board of Investment will host the Sri Lanka Investment Forum 2026 on 30 March at Cinnamon Life, Colombo, focusing on green transition and sector-led investments including renewable energy, green finance, services, manufacturing, infrastructure and leisure. The EU, ADB and ESCAP are supporting the event, which includes parallel sector sessions and a closed-door EU–SL investor dialogue.

The ninth Boat & Marine Show Sri Lanka was held 30 Jan–1 Feb 2026 at Port City, Colombo, showcasing marine tourism and boat-building (50 exhibitors, 90 stalls) to promote exports and B2B links with international buyers. The event aimed to boost nautical tourism and attract investment into boat-building and related services.

Fitch assigned Aitken Spence Hotel Holdings PLC a first-time National Long-Term Rating of AA+(lka) with a Stable Outlook. Fitch cited strong parent support from Aitken Spence PLC and Melstacorp, but flagged high exposure to the Maldivian economy and rated proposed senior unsecured debentures AA(lka) up to Rs.5bn.

Fitch assigned Aitken Spence Hotel Holdings (AHUN.N0000) a National Long-Term Rating of 'AA+(lka)' with a Stable Outlook and rated its proposed senior unsecured debentures (up to LKR5bn) 'AA(lka)'. Fitch cited strong parent support, USD-pegged hotel cash flows and low leverage, offset by high exposure to the weak Maldivian economy and repatriation risk.

Cinnamon Hotels CEO Hishan Singhawansa said India’s rapid growth (GDP ~7.2%) and expanding middle class will boost Sri Lankan tourism, forecasting Indian outbound travellers to rise from about 20 million to 50 million in the next 5–6 years.

Volt Charge has partnered with Jetwing Hotels to deploy nine EV charging stations across Jetwing properties (four already operational), expanding destination-based EV charging in Sri Lanka's hospitality sector and supporting cleaner transport; Volt Charge already has deployments with organisations including Aitken Spence and a registered user base over 10,000.

Aitken Spence Hotel Holdings' Heritance Hotels and Resorts was named Superbrands Sri Lanka’s Choice 2025. The award recognizes the brand's excellence, sustainability and experience-led hospitality across Sri Lanka and the Maldives.

The Sri Lanka–Germany Business Council elected Gerard Victoria as President at its 26th AGM and set priorities to strengthen tourism cooperation and promote bilateral investment in energy, logistics, manufacturing and digital services. Aitken Spence units were elected to the Council's Executive Committee.

Browns Beach Hotels PLC's board proposed voluntary delisting from the CSE and offered minority shareholders an exit price of Rs. 30 per share, with majority shareholders Melstacorp (41.88%) and Aitken Spence Hotel Holdings (36.62%) arranging purchases of exiting shares. The company cited sustained losses, a going-concern emphasis, negative net asset position and non-compliance with minimum public holding.

Melstacorp (MELS.N0000) and Aitken Spence Hotel Holdings (AHUN.N0000) have arranged to buy back minority shares as Browns Beach Hotels seeks delisting from the Colombo Stock Exchange with an exit offer of Rs.30 per share. The move follows sustained losses, non-compliance with minimum public holding and is subject to regulatory and shareholder approval.

Aitken Spence Hotel Holdings plans to issue up to 50 million debentures to raise Rs5 billion (Rs100 each), initially issuing 30 million with an option for a further 20 million; the listed, unsecured senior redeemable debentures are subject to regulatory approvals and will be listed on the Colombo Stock Exchange.

FACETS Sri Lanka 2026, the 33rd edition of Asia’s premier gem and jewellery exhibition, opened at Cinnamon Life in Colombo, drawing international buyers and highlighting sustainable sourcing. The event occupies two floors and is expected to support hotel bookings and broader tourism activity in Colombo.

Sri Lanka will host the three-day 'One Love' reggae festival in Bentota from 27–29 March 2026 with six international acts including Maxi Priest and Julian and Ky‑Mani Marley, expected to draw thousands and boost the island's leisure and hospitality sector.

Asoka Hettigoda was elected President of The Hotels Association of Sri Lanka and proposed raising the national tourism earnings target to USD 10 billion by 2030. He outlined plans to reach 6 million visitors, boost per-night spending by 30%, invest USD 50m/yr in marketing, and prioritize sustainability and industry unity.

The Sri Lanka–Russia Business Council held its 22nd AGM highlighting export opportunities in tea, rubber, spices and fisheries and renewed focus on promoting tourism with Russia remaining a top inbound market. The Council also flagged plans on trade settlement, SME access, tech transfer, renewables, logistics and education.

Over 25,000 tourists arrived during and after Cyclone Ditwah and Cinnamon Life at City of Dreams received Five-Star certification. Sri Lanka recorded over 2.1 million arrivals in the first 11 months, with November posting the highest monthly arrivals since March 2025.

Aitken Spence's local operator handled the luxury cruise Mein Schiff 06 arrival in Colombo with over 2,000 passengers onboard and more than 1,600 guests taking excursions. The visit mobilized 72 coaches and 30 vans and is being cited as a sign of tourism recovery.

A Germany-based Sri Lankan executive is promoting investment in Sri Lanka's cruise tourism, seeking to attract 5,000–7,000-passenger liners and link international cruise lines with local hotels. He is engaging SLPA, AHK and BOI and aims to establish operations in Colombo by 2027 pending feasibility studies.

Jetwing Symphony chairman Hiran Cooray said President Dissanayake’s 'Clean Sri Lanka' initiative could become a long-term national tourism brand, enhancing Sri Lanka's global image and appeal for investment and travel. He urged industry and authorities to unite behind the campaign.

Aitken Spence Hotel Holdings PLC's Heritance Kandalama won the Silver Global Responsible Tourism Award 2025 for Climate Adaptation and Resilience. The property, the only Sri Lankan hotel awarded, holds longstanding ISO 14001 certification and maintains over 200 acres of conservation forest.

Aitken Spence PLC reported PBT of Rs. 1.6 billion for the six months to 30 Sep 2025, a 42% year-on-year increase. Group revenue was Rs. 40.7 billion, with tourism contributing 64.3% of revenue and tourism operating profit rising 86.5% year-on-year.

Aitken Spence PLC reported PBT of Rs. 1.6 billion for the six months to 30 Sep 2025, a 42% increase year‑on‑year, on revenue of Rs. 40.7 billion. Tourism accounted for 64.3% of revenue while Maritime & Freight Logistics was the largest profit contributor; group sustainability and renewable-energy initiatives were highlighted.

The Harvard Club of Sri Lanka will host 'Big Bold Brave 2025' from 12–14 Nov at Cinnamon Life, Colombo, with 150+ delegates and 40+ speakers; the APAC conference is expected to boost demand for Colombo hotels and conference venues.

Aitken Spence Institute of Hotel Management (linked to Aitken Spence Hotel Holdings PLC) graduated 46 students in 2025 through its five-month hospitality training program. Since 2007 the institute has graduated over 1,400 students and provides accommodation, meals and stipends.