John Keells Holdings Ltd. plans to build a 25 storey, 240-room business hotel in Colombo with an investment of LKR 2.90 billion ($26.4 million) in a joint venture with Sanken Lanka Limited. The new hotel, to be built in 33 months, will be managed by group unit Keells Hotel Management Services. JKH aims to have up to 1,000 business hotel rooms to cater to growing numbers of business travellers. Sanken Lanka will be the major shareholder in the project on Green Path in Colombo while John Keells Holdings will take a minority stake. Sanken Lanka will be the main contractor for the project which will be on a design and build basis with Design Team 3 of Singapore being the project architects. The hotel will have restaurant capable of seating 160 people on the 24th floor with a roof top swimming pool, bar, open air lounge and gym facilities offering a panoramic view of the city. JKH will launch a new brand for the business hotel in six months.