Grand Hyatt Colombo, a project funded by a consortium of State Owned Enterprises had been promoted to provide the state-of-the-art infrastructure project of a 5 Star Plus Hotel. Invested by Sri Lanka Insurance Corporation, Employee Provident Fund, and Litro Gas Lanka Limited in the equity of Canwill Holdings (Pvt) Ltd through its fully owned subsidiary Sinolanka Hotels & Spas Pvt Ltd (SHSL) under purview of the subject Ministry of Public Enterprises Development. SHSL was entrusted to develop aforementioned luxury hotel complex at 116, Galle Road, Colombo 03 under Strategic Development Project Act. No. 14 of 2008 and project had been identified as a national interest project for the booming hospitality industry space in the economy.