Sri Lanka’s Galadari Hotel to invest millions of dollars for refurbishment to be completed by 2021
Galadari Hotel in Sri Lanka is reportedly investing a total of US$ 15 million to refurbish its property targeting completion by 2021.
It is the first time refurbishment the hotel is undergoing since its opening in 1986.
“We are making maximum use of this low occupancy period to go ahead with our refurbishment which was already on our cards. The refurbishment will be done in two phases where we hope to complete the entire project by 2021,” Galadari Hotel General Manager Sampath Siriwardena has told the Daily FT.
According to him, the hotel has already started refurbishing its 427 rooms, which is slated to be completed by January 2020.
The second phase of the refurbishment includes the lobby, reception, shops and restaurants, which the management believes will commence by February 2020 and be completed by the latter part of March or early April 2021.
According to Siriwardena, the total investment, which is around US$ 15 million, is funded fully by Galadari Brothers, Dubai.
With the refurbishment project, the hotel hopes to have an all-day dining, one bar and three restaurants with different concepts.
OSL take:
While Sri Lankan authorities are engaged in ways to give a boost to the country’s tourism industry, This period could also be used to carry out renovations and upgrading of hotels and other businesses engaged in the leisure and hospitality business. Sri Lanka’s tourism sector is a hotspot for business/investment opportunities that could be captured by the discerning investor.
| Article Code : | VBS/AT/22052019/Z_3 |