Sri Lanka Tourism Development Authority records a billion dollars worth of approved hotels under construction
The Sri Lanka Tourism Development Authority (SLTDA) has reportedly stated that the country has a billion dollars worth of approved hotels under construction and another US$ 200 million of projects which are yet to start building.
According to reports, between November 2010 and March 2018, the SLTDA had approved US$ 2.9 billion worth of hotels. About US$ 1.65 billion worth of hotels, with 8,932 rooms are already in operation.
Reports further state that the billion dollars of projects under construction will add another 7,261 rooms while another 42 projects, worth US$ 204 million involving 1,798 rooms are yet to begin construction.
SLTDA has said there were 36,133 registered rooms in use as of March 2018.
However, around one quarter of tourists visiting the country stay in unregistered accommodation, according to the SLTDA’s last annual report, placing the country’s total room capacity at higher levels, a local media report has stated.
Two thirds of the SLTDA approved projects will have less than 49 rooms, while 22 projects or 7 percent of the total will be large hotels with more than 200 rooms, reports add.
According to reports, the most number of new projects since 2010 have come up or are being built in the Galle district, with 54 projects adding 3,090 rooms, but larger hotels are coming up in Colombo, with 41 projects adding 5,308 rooms.
The SLTDA’s record of a billion dollars worth of hotels being under construction in Sri Lanka is an indication of the level of development in the country’s tourism sector. Sri Lanka’s tourism sector has been recording a continuous growth and the increase in tourist arrivals has resulted in the need to increase the number of hotel rooms in the country. The Sri Lankan government is also in the process of looking at new forms of tourism. Therefore, Sri Lanka’s tourism sector is ideal for foreign investments.
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