Sri Lankan government approves US$ 54.7 million in hotel investments during fourth quarter of 2018
Sri Lanka Tourism Development Authority (SLTDA) has reportedly granted approval for US$ 54.7 million in hotel investments during the fourth quarter ending in December 2018.
The SLTDA data has shown the investments were across 13 new hotel projects, of which 12 were small, with less than 49 rooms each, the local media has reported.
Accordingly, one project in Trincomalee will have 50 rooms and in total, 264 rooms will be added to the national supply once the newly approved hotels finish construction, for an average of 20 rooms per hotel.
Four of the approvals granted are for hotels in the Galle district, and two are in the Gampaha district, SLTDA statistics have further revealed.
According to reports, another nine new hotels, worth investments of US$ 14.8 million started their commercial operations during the quarter.
These hotels added 247 rooms to the national supply.
The SLTDA has stated that the total registered room supply in Sri Lanka is now 38,214, which is an increase from 36,693 in the September quarter.
OSL take:
The announcement by the SLTDA is yet another indication of the continuous growth recorded by Sri Lanka’s tourism industry. The development and promotional campaigns carried out by Sri Lanka has increased the tourist arrivals to the country creating a host of business/investment opportunities in the leisure and hospitality sectors. The increase in the number of hotel projects shows the opportunities for business in Sri Lanka’s tourism industry and foreign businesses/investors could look at doing business with Sri Lanka.
| Article Code : | VBS/AT/22022019/Z_1 |