FactChecked

“Sri Lanka’s Cinnamon Grand Hotel worth over Rs. 25 Billion” – Rating ‘True and Correct’

5th June 2017, FactCheck Sri Lanka.

CLAIM

Sri Lanka’s Cinnamon Grand Hotel, Colombo worth over Rs. 25 Billion.

RATING

FactCheck True

ORGIN

 

The latest Annual Report released by Sri Lanka’s John Keells Holdings (JKH) as at 31st March 2017 lists down the Real Estate Portfolio of the Group on 270-271 pages and highlights that Cinnamon Grand Hotel Premises in Colombo 03 has 648,793 square feet in Buildings on 8.03 acres plot of a land which has a Net Book Value of over Rs. 25.15 billion.

The report further highlights that the Net Book Value of the Cinnamon Grand property has increased from Rs. 15.91 billion in March 2016 to Rs. 25.15 billion by March 2017.

 

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