Sri Lanka’s Citrus Leisure extends Lotus Tower management pact
Photo: EconomyNextAI summary · 1 min read
1 min readFrom 2 outlets- EconomyNext reports that the agreement was extended until June 30, 2027.
- The current agreement was scheduled to expire on December 11.
- EconomyNext reports that the management role covers banquet halls, a revolving restaurant, six suites and a basement kitchen.
EconomyNext reports that Sri Lankan hospitality company Citrus Leisure agreed to extend its management agreement with Colombo Lotus Tower Management Company (Private) Limited, or CLTMC, through June 30, 2027. The current agreement was due to expire on December 11. Hiru News also reports a six-month extension.
EconomyNext reports that CLTMC’s board approved continuing the existing agreement at a meeting on November 2, 2026, and that Citrus Leisure concurred. The agreement, signed in May 2023 for three years, covers two banquet halls on the tower’s 25th and 26th floors, the Blue Orbit revolving restaurant on the 27th floor, six suites on the 28th floor and a basement kitchen.
EconomyNext reports that Citrus Leisure opened the revolving restaurant in December 2023. The outlet describes the Lotus Tower as a 350-metre structure in central Colombo and reports that it cost US$104.3 million, with 80 percent of the funding borrowed from China’s Exim Bank. It also notes the tower’s contested public reputation.
Your take
Be the first to reactDiscussion
Readers' views on this storyStory alerts
Get an email when an outlet reports something new on this story.