Sri Lanka’s John Keells Group to open Rs. 6.5 billion Cinnamon Red Kandy by end 2020
The John Keells Group in Sri Lanka has reportedly stated that Cinnamon Red Kandy, which is part of a hotel brand operated by the group, will open a Rs. 6.5 billion lean luxury hotel in Kandy as a joint venture project by end-2020.
According to reports, the opening of Cinnamon Red Kandy is set to coincide with the opening of the Colombo-Kandy highway, which would create more traffic for the hotel.
“The hotel will be strategically located in proximity to the Kandy-Colombo highway and is well-positioned to cater to the demands of the new age traveller and millennials,” John Keells Chairman Krishan Balendra has said.
“Its unique selling proposition will add variety and diversity to the room classifications in Kandy delivering an outstanding lean-luxury experience to its guests,” he has said.
Cinnamon Red Kandy is a joint venture with Indra Traders, which will invest 60 percent of the capital.
A long-term management contract has been signed between Indra Traders and Cinnamon Hotels.
The hotel, with 210 rooms, will be located on a 130-perch property off Katugastota Road.
Cinnamon has reportedly said that the hotel is ideal for both business travellers and families, and includes wheelchair access.
The chain’s first 242-room Red property was opened in Colombo in 2014.
OSL take:
The billion rupee lean luxury hotel currently under construction in Kandy is indicative of the growing tourism and leisure industry in Sri Lanka. The construction of several key highways would make connectivity to most areas in the island easy and the continuous developments in the leisure and tourism sectors would in turn create more business/investment opportunities for foreign businesses/investors to explore.
| Article Code : | VBS/AT/05022019/Z_3 |