Investors’ upbeat on tourism

By Duruthu Edirimuni

Despite the prevailing uncertain situation in the country, both local and foreign firms are buoyant on investment and are gearing to develop mega tourism projects.

Dr. Prathap Ramanujam, Secretary, Ministry of Tourism told The Sunday Times FT that both the Vijay Group and Accor Hotels have set their sights on city properties as well as properties near the airport. “They may buy some properties outright or develop the land in these areas,” he said.

Udaya Nanayakkara, Chairman Sri Lanka Tourist Board (SLTB), who was bubbly about the entire tourism industry in the country, (irrespective of war or peace), said he successfully secured 22 potential investors for the Kalpitya Tourism Industry Zone.

“I have found 22 investors for this project and there are many more who are to submit proposals,” he said. He said that this goes to show that both the foreign and local investors are optimistic about the country, adding that the tensions and the no peace situation does not factor in at all. “The investors are not worried about the tensions. That is why they have shown interest in the country,” he said.

T. Sooriyagoda, Director Development and Resort Management, SLTB said foreign investors for the Tourism Zone are mostly from Britain, Germany and Italy and all major local tourism firms have submitted proposals. “All major local companies including Carson Cumberbatch and Jetwing have submitted proposals,” he said, adding that SLTB is looking at developing more than 5000 rooms in the zone. He said that the master plan for the project is currently being evaluated.

“The evaluation will be completed within one and a half month's time,” he added.

George Michael, Additional Secretary, Ministry of Tourism said that Hilton International has also expressed interest in a 340-room resort. “They are interested in a property in Colombo and also the Arugam Bay area,” he said.

Aitken Spence and Company is also expected to secure land at D.R.Wijewardena Mawatha to build a hotel. “We have applied for a two acre land,” Rajan Britto, Deputy Chairman and CEO Aitken Spence and Company said.