The chain operates a chain of 26 hotels in Sri Lanka, the Maldives, India and Oman.
There are now two hotels under the 'Heritance' brand in Sri Lanka and one in India. A hill country hotel, the Tea Factory, is also to be re-branded.
The group's Maldivian hotels are branded 'Adaaran'.
The hotel will be re-branded 'Heritance Mahagedera'. Mahagedera is a Sri Lankan term that refers to the ancestral or parent's residence.
"A special effort has been made to respect and retain the historical ambience of the property," Aiken Spence said in a statement.
"The Heritance brand mission is aimed at travelers experiencing, connecting with, and learning from Sri Lanka’s rich cultural heritage."
The group says the hotel will have yo