Sri Lanka’s BOI signs agreement for US$ 18 million first-ever airport based hotel at BIA - Opportunity Sri Lanka
Sri Lanka’s BOI signs agreement for US$ 18 million first-ever airport based hotel at BIA

Sri Lanka’s BOI signs agreement for US$ 18 million first-ever airport based hotel at BIA

Sri Lanka’s Board of Investment (BOI) has recently signed an agreement with Colombo International Airport Hotels Ltd. (CIAH) to construct the country’s first-ever airport hotel within the Airport and Aviation Services premises at Katunayake, according to local media reports.
According to reports, CIAH is to invest US$ 18.2 million for this respective project and the first phase of this hotel development is planned to be ready by 2022.

The agreement was signed by BOI Chairman Sanjaya Mohottala and CIAH Chairman Ruwan Perera.
The airport-based hotel is set to offer a mega value addition to the expanding capacity of the Bandaranaike International Airport (BIA) and will offer four-star facilities with over 100 rooms inclusive of superior, deluxe and suite rooms.

Internationally-acclaimed architectural designs and state of the art technologies are to be introduced in this project by the Japanese partnering companies.
Mohottala has been quoted as saying, “A star class hotel within the airport premises has been a key requirement for Sri Lanka, and we are indeed grateful that a project of this nature is taking shape. With international passenger traffic expected to increase exponentially, and with Sri Lanka aiming to become one of Asia’s main transit ports, the country needs to accelerate hotel capacity rapidly. This project is therefore, an extremely welcome infrastructure development initiative that we are all eagerly looking forward to, and I would like to extend my sincere appreciation to everyone who is working towards making it a reality.”
Meanwhile, Perera has been quoted as saying, “We are especially pleased with the timing of this project. This will not only add significant value to the BIA, but also offer a unique option for international visitors patronising the Katunayake Export Processing Zone, as well as flight crew, transit and business travellers.
“We are most delighted to partner with Airport & Aviation Services Sri Lanka Ltd. in this venture on their own land fulfilling the vision of the Government. We are also overwhelmed by the confidence placed on this project by Japanese partners and also for the opportunities created for local companies to prove their talents through collaboration.”

OSL take:

Foreign travellers arriving in the country are on the increase indicating a steady growth in Sri Lanka’s overall economy. The increase in foreign travellers arriving in the country have also opened up new business/investment opportunities in Sri Lanka’s leisure and hospitality sectors. Given the growth in Sri Lanka’s tourism industry, the increase in economic activities and the growing business potential in the country’s hospitality industry have attracted foreign leisure businesses to enter Sri Lanka.

Share this:

Article Code : VBS/AT/04112021/Z_4

    For More Info and Help

    Leave a Comment