Tourism is certainly not the best investment these days in Sri Lanka but some investors still feel there is hope in this struggling industry.
One such investor is Canora Hotels (Private) Ltd, a Board of Investment (BOI) project, to set up a luxury hotel in the city of Kandy at an investment cost of US$ 3 million.
A BOI press release quotes Gamini Weeraratne, Managing Director of Canora Hotels, as saying the hotel will be built on a 260-perch block of land in Kandy on land where the Odeon Theatre, the old film hall, was located.
The hotel is a 75-roomed Star class hotel with two types of suites, Presidential Suite and Junior Suite, along with other luxury rooms. “Completion of the hotel will take over three years and therefore we are looking at a launch of 2012 or later,” he says.
Mr Weeraratne says Kandy is an ideal location for a tourism project due to its strategic location and the high demand for rooms. During times of major events such as conferences or seminars, international cricket matches and the annual Esela Perahera, there is an even greater demand for rooms. “The 75 rooms our hotel will offer once launched will help solve this problem to a certain degree. In addition, we will be targeting the European market where Sri Lanka is traditionally quite well known and is a popular holiday destination,” he added.