Sanken Construction to set up 112 room hotel in Sri Lanka with US$ 9 million investment
Sanken Construction Ltd. is has reportedly signed the relevant agreements to construct and operate a 112-room hotel in Sri Lanka with an investment value of US$ 9.28 million.
An agreement to this effect was reportedly signed by the Company’s Executive Director Rohana Wannigama with the Chairman of Sri Lanka’s Board of Investment (BOI) Mangala Yapa.
Wannigama has been quoted in the local media as saying that the company will be building a 112-room business hotel in the one-star category, but of a much higher standard. “This will be a 10-storey building, and we are seeking an international hotel operator to work with on this project.”
He has further noted that the hotel is aimed at the business traveller, and will be functional, providing the guest with a comfortable and decent hotel room. “Another important consideration is the convenience of the location, as our hotel will be at Union Place, which is becoming a busy and happening street of Colombo, possibly like Orchard Street in Singapore in the future.”
Wannigama has added that the rationale behind building a hotel of that class was that most business guests spend their time attending to meetings and other activities, and only return at night.
OSL take:
Sri Lanka’s tourism industry is on a continuous growth path. The industry has recorded an impressive return to normalcy following the setback suffered in the aftermath of the Easter Sunday attacks in April. Tourist arrivals to the country are on the increase and investments continueto increase to the sector. Sri Lanka continues to maintain the top slot as the destination of the year in several key global travel publications. The tourism promotions carried by authorities overseas have also helped boost the industry. Foreign businesses/investors could explore busines/investment opportunities in Sri Lanka’s tourism industry.
| Article Code : | VBS/AT/28102019/Z_1 |