News & market updates

Cinnamon Life at City of Dreams has appointed Kamal Munasinghe as General Manager effective 15 February 2026. He will continue as Senior Vice President – Colombo Hotels at Cinnamon Hotels & Resorts and brings over 30 years of international and local hospitality experience.

Chinthaka Jayaweera has joined the boards of Bukit Darah (BUKI.N0000), Carson Cumberbatch (CARS.N0000), Equity Two (ETWO.N0000) and Pegasus Hotels (PEG.N0000) as an Independent Non-Executive Director. He was VP and Chief Internal Audit Executive at A.P. Moller Maersk with 28 years' experience in governance, risk and finance.

Radisson Blu Resort Galle, Radisson Hotel Colombo and Radisson Hotel Kandy are introducing a fleet of electric vans supplied by Evolution Auto to electrify operations and reduce emissions. The fleet (KYC and King Long vans) will support staff, guest and logistics movements, include charging facilities, and cut fuel and maintenance costs.

City of Dreams Sri Lanka will host a Lunar New Year celebration from 17 February to 3 March featuring cultural showcases (lion and fan dances), appearances by Gods of Fortune, themed décor across Level 6 and Spice8, and a special Chinese New Year buffet at Spice8.

The BOI, with the EU, ADB and ESCAP, will host the Sri Lanka Investment Forum on 30 March 2026 at Hotel Cinnamon Life to promote the country for high-value, sustainable and technology-driven investment.

Cinnamon Bentota Beach (John Keells Hotels) donated and installed two air-conditioning units for the smart classroom at Bentota Gamini National School. A handover ceremony was held with school and hotel representatives as part of the resort's community engagement to support digital learning.

Soho Hospitality will open its Charcoal Tandoor Fire Grill in Colombo later this year, marking the brand's first expansion into South Asia and locating on the 50th floor of Capitol Twin Peaks. The group cited Colombo's tourism growth and rising consumer sophistication as key reasons for the entry.

Around 15 private jets, mostly from India, arrived in Colombo for the India‑Pakistan T20 match, filling city hotels and creating spillover demand in Mount Lavinia and Negombo. Feb 1–12 data show India led arrivals with 18,819 visitors (15% of total), underscoring a tournament-driven tourism boost.

John Keells Hotels (KHL.N0000) appointed Kamal Munasinghe as General Manager of Cinnamon Life at City of Dreams, effective 15 Feb 2026. He will continue as Senior VP – Colombo Hotels at Cinnamon Hotels & Resorts and brings over three decades of hospitality experience.

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.

At the 27th EU–Sri Lanka Joint Commission in Colombo the EU stressed time-bound delivery of Sri Lanka's commitments under the GSP+ scheme, urging alignment of anti-terror legislation; both sides also discussed investment opportunities under the EU's Global Gateway and cooperation on trade, fisheries and education.

Tourist arrivals in Sri Lanka for the first 12 days of February rose 19% YoY to 124,460, lifting YTD arrivals to 401,787 (up 12.5%) and the daily average to 10,372; city hotels are reported fully booked ahead of the India-Pakistan T20 World Cup match in Colombo.

The Defence Ministry announced a comprehensive, multi-layered security framework for the T20 Cricket World Cup — covering match venues, team hotels, training facilities, airports, fan zones, airspace surveillance, CCTV monitoring, and emergency response teams to ensure safety throughout the tournament.

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.

Cinnamon Life at City of Dreams (Cinnamon Life) is offering 'The Spirit of Iftar' buffet at Quizine from 17 Feb to 17 Mar priced at LKR 10,500 nett per person. A Suhoor room-service menu will also be available and no non-Muslim items will be served during dinner service.

IRONMAN® 70.3 Colombo will take place 19–22 Feb 2026 at Port City Colombo, expected to host nearly 1,000 athletes from 49+ countries and boost tourism and local economic activity; Asiri Health is named the event medical partner.

HNB MD/CEO Damith Pallewatte highlights HNB’s Sarusara agripreneur programme (15,000 participants to date, 30,000 target) and a 2026–2030 strategic plan. He warns of banking-sector challenges (liquidity, asset quality, digital risk) and urges ecosystem-building across exports, agriculture, tourism and digital services.

Treasury Secretary said Sri Lanka has agreements covering nearly 99% of external debt and has restructured over 92%, cutting public debt to about 105% of GDP and is expected to secure an additional $350m from the IMF after the fifth review. Cyclone Ditwah caused $4.1bn in damage (with $1.62bn needed in 2026) and recovery spending has been incorporated into the 2026 Budget without derailing fiscal consolidation.

Central Bank of Sri Lanka clarified that all transactions between residents must be in Sri Lankan Rupees and that it has not authorized merchants to accept or convert payments into foreign currency, with penalties up to Rs25,000,000 and/or up to three years' imprisonment. The instruction explicitly covers payments via credit/debit cards.

The Attorney General told the Court of Appeal that a letter from the SLTDA endorsing projects to promote LGBTIQ tourism will be withdrawn. The Tourism Ministry later clarified the government has not launched LGBTQ-targeted campaigns and will continue promoting cultural heritage, nature, wellness and adventure.

IHCL signed an agreement to develop a 220-key Taj-branded beachfront hotel in Weligama, Sri Lanka, including 80 luxury apartments and multiple F&B, spa and event facilities, in partnership with Beryll Group.

Ajay Banga (World Bank) warns 1.2 billion young people will enter the workforce in the next 10–15 years while only about 400 million jobs are expected, creating a vast shortfall. The World Bank proposes a three-pillar jobs strategy (infrastructure and skills, business-friendly rules, and scaling businesses) focused on infrastructure, agribusiness, healthcare, tourism and manufacturing.

Marriott reported record APEC development in 2025—187 organic deals adding more than 28,000 rooms to its pipeline—and confirmed a Ritz‑Carlton Reserve planned for Pottuvil, Sri Lanka (est. opening 2032).

Salam Ramadan 2026 will run 27 Feb–1 Mar 2026 along Green Path, Colombo, and the organisers are inviting vendors, hotels, F&B operators, retailers and service providers to participate in a curated festival with 50+ stalls and citywide activations after attracting 15,000 visitors in 2025.

Kandy Myst by Cinnamon (operated by John Keells Hotels PLC) celebrated its first anniversary after opening on 12 February 2025, offering 215 rooms and becoming the first hotel in Kandy to receive LEED Gold certification.

SLTDA and UN Tourism held Sri Lanka’s first national workshop on tourism economic leakages on 28 Jan, finding close to one-third of value in accommodation, tour operators and wellness leaks out; outcomes will feed a SLTDA-led three-year action roadmap to boost domestic value retention. Tourism generated USD 3.17 billion in receipts in 2024.

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.

Forbes Travel Guide unveiled its 2026 Star Awards, naming 2,422 winners including 343 Five-Star properties and, for the first time, a Five-Star cruise (The Ritz-Carlton Yacht Collection’s Ilma). Winners span over 100 countries with new honorees in destinations such as Sri Lanka.