Sri Lanka Hospitality Industry Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The Sri Lanka Hospitality Industry Report is Segmented by Type (Chain Hotels and Independent Hotels) and Segment (Service Apartments, Budget and Economy Hotels, Mid and Upper-Mid-Scale Hotels, and Luxury Hotels). The Report Offers Market Sizes and Forecasts in Terms of Value (USD) for all the Above Segments.

Sri Lanka Hospitality Industry Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Sri Lanka Hospitality Market Size

Hospitality Industry In Sri Lanka Summary
Study Period 2020 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Market Size (2025) USD 503.20 Million
Market Size (2030) USD 702.14 Million
CAGR (2025 - 2030) 6.89 %
Market Concentration Low

Major Players

Hospitality Industry In Sri Lanka Major Players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of Hospitality Industry In Sri Lanka with other markets in Hospitality and Tourism Industry

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Sri Lanka Hospitality Market Analysis

The Hospitality Industry In Sri Lanka Market size is estimated at USD 503.20 million in 2025, and is expected to reach USD 702.14 million by 2030, at a CAGR of 6.89% during the forecast period (2025-2030).

The Sri Lankan hospitality industry, which includes resort hotels, boutique accommodations, homestays, and traditional Sri Lankan restaurants, is crucial to the nation's tourism industry and economic health, serving as the third-largest source of revenue through foreign exchange earnings.

The industry has consistently been a top earner from tourism, establishing the country as an essential income source and offering attractive opportunities for investors and traders. The government has initiated plans to improve the country's beach and island tourism.

Port City Colombo (PCC) is at the forefront of transforming Sri Lanka into a premier tourist destination, attracting global travelers and investors with its commitment to sustainability, innovation, and exceptional hospitality, signaling a new chapter for the tourism industry.

The country prides itself on a collection of world-class hotels, resorts, boutique accommodations, and a dynamic culinary landscape. While already featuring luxury dining and a variety of cuisine, Sri Lanka is further investing in leisure and recreational activities, including three renowned golf courses in Nuwara Eliya, Kandy, and Colombo.

Despite these offerings, there is considerable room for growth, particularly in regions beyond the Western Province, where entertainment complexes and amusement parks are concentrated. This presents a significant opportunity for the expansion of such facilities throughout the island.

Sri Lanka Hospitality Industry Segmentation

The Sri Lankan hospitality industry is highly fragmented. The country's hospitality industry is a mosaic of global and domestic players, leading to a highly competitive environment across its diverse segments, spanning city hotels to sprawling resorts. In this milieu, the strategic positioning and architectural distinctiveness of hotels are poised to emerge as pivotal brand differentiators. The major players in the market are Shangri-La Hotels and Resorts, Mariott International Inc., Amaya Resorts & Spa, Cinnamon Hotels & Resorts, and InterContinental Hotels & Resorts.

Sri Lanka Hospitality Market Leaders

  1. Shangri-La Hotels and Resorts

  2. Mariott International, Inc

  3. Amaya Resorts & Spa

  4. Cinnamon Hotels & Resorts

  5. InterContinental Hotels & Resorts

  6. *Disclaimer: Major Players sorted in no particular order
Sri Lanka Hospitality Market Concentration
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Sri Lanka Hospitality Market News

  • February 2024: Marriott International reinforced its commitment to South Asia. The company expanded its development pipeline by over 4,600 rooms through 28 hotel deals signed in 2023, building on agreements made since 2020. Marriott's South Asian market includes India, Nepal, Bhutan, Bangladesh, Sri Lanka, and the Maldives.
  • January 2023: Courtyard by Marriott Colombo debuted in Sri Lanka. Located 1.7 km from Galle Face Beach, the hotel offers amenities, including an outdoor swimming pool, free private parking, a fitness center, and a terrace. The property also features a bar and a restaurant serving Chinese cuisine.

Sri Lanka Hospitality Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions and Market Definition
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET INSIGHTS AND DYNAMICS

  • 4.1 Market Overview
  • 4.2 Market Drivers
    • 4.2.1 Rise in the Tourism Industry
    • 4.2.2 Increase in the Number of Hotel Projects and Investments
  • 4.3 Market Restraints
    • 4.3.1 Sustainability and Competition Threaten Industry Success
  • 4.4 Market Opportunities
    • 4.4.1 Government Initiatives Can Be Used to Expand the Horizons of the Industry
    • 4.4.2 Online Marketing Can Be Leveraged to Expand the Customer Base
  • 4.5 Value Chain / Supply Chain Analysis
  • 4.6 Industry Attractiveness: Porter's Five Forces Analysis
    • 4.6.1 Threat of New Entrants
    • 4.6.2 Bargaining Power of Buyers
    • 4.6.3 Bargaining Power of Suppliers
    • 4.6.4 Threat of Substitutes
    • 4.6.5 Intensity of Competitive Rivalry
  • 4.7 Impact of COVID-19 on the Hospitality Industry
  • 4.8 Insights into Revenue Flows from the Accommodation and Food and Beverage Sectors
  • 4.9 Leading Cities in Sri Lanka with Respect to Number of Visitors
  • 4.10 Investments (Real Estate, FDI, and Others) in the Hospitality Industry
  • 4.11 Technological Innovations in the Hospitality Industry
  • 4.12 Insights into Shared Living Spaces' Impact on the Hospitality Industry
  • 4.13 Insights into Other Economic Contributors to the Hospitality Industry

5. MARKET SEGMENTATION

  • 5.1 By Type
    • 5.1.1 Chain Hotels
    • 5.1.2 Independent Hotels
  • 5.2 By Segment
    • 5.2.1 Service Apartments
    • 5.2.2 Budget and Economy Hotels
    • 5.2.3 Mid and Upper-mid-scale Hotels
    • 5.2.4 Luxury Hotels

6. COMPETITIVE LANDSCAPE

  • 6.1 Market Concentration
  • 6.2 Company Profiles
    • 6.2.1 Shangri-La Hotels and Resorts
    • 6.2.2 Mariott International Inc.
    • 6.2.3 Amaya Resorts & Spa
    • 6.2.4 Cinnamon Hotels & Resorts
    • 6.2.5 InterContinental Hotels & Resorts
    • 6.2.6 Amari Galle
    • 6.2.7 Yoho Lanka (Pvt.) Ltd
    • 6.2.8 Tangerine Group of Hotel
    • 6.2.9 Jetwing Hotels
    • 6.2.10 Anantara Hotels, Resorts & Spa
    • 6.2.11 Ramada (by Wyndham Hotels & Resorts) *
  • *List Not Exhaustive

7. FUTURE MARKET TRENDS

8. DISCLAIMER AND ABOUT US

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Sri Lanka Hospitality Industry Segmentation

Hospitality means receiving and entertaining guests in a way that makes them feel well taken care of. It leverages ambiance, service, and products or amenities to provide guests with the best experience possible.

The Sri Lankan hospitality industry is segmented by type and segment. By type, the market is segmented into chain hotels and independent hotels. By segment, the market is divided into service apartments, budget and economy hotels, mid and upper-mid-scale hotels, and luxury hotels. The report offers market sizes and forecasts in terms of value (USD) for all the above-mentioned segments.

By Type Chain Hotels
Independent Hotels
By Segment Service Apartments
Budget and Economy Hotels
Mid and Upper-mid-scale Hotels
Luxury Hotels
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Sri Lanka Hospitality Market Research FAQs

How big is the Hospitality Industry In Sri Lanka Market?

The Hospitality Industry In Sri Lanka Market size is expected to reach USD 503.20 million in 2025 and grow at a CAGR of 6.89% to reach USD 702.14 million by 2030.

What is the current Hospitality Industry In Sri Lanka Market size?

In 2025, the Hospitality Industry In Sri Lanka Market size is expected to reach USD 503.20 million.

Who are the key players in Hospitality Industry In Sri Lanka Market?

Shangri-La Hotels and Resorts, Mariott International, Inc, Amaya Resorts & Spa, Cinnamon Hotels & Resorts and InterContinental Hotels & Resorts are the major companies operating in the Hospitality Industry In Sri Lanka Market.

What years does this Hospitality Industry In Sri Lanka Market cover, and what was the market size in 2024?

In 2024, the Hospitality Industry In Sri Lanka Market size was estimated at USD 468.53 million. The report covers the Hospitality Industry In Sri Lanka Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Hospitality Industry In Sri Lanka Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Sri Lanka Hospitality Industry Report

Statistics for the 2025 Hospitality Industry In Sri Lanka market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Hospitality Industry In Sri Lanka analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.