|
|
 |
 |
 |
| Wednesday, 29 September 2004 |
 |
|
 |
Business | |
| News Business Features Editorial Security Politics World Letters Sports Obituaries
|
$ 14 m Colombo Plaza refurbishment program gets under way in Oct. by Shirajiv Sirimane Construction work on the US Dollar 14 million refurbishment program undertaken by the management of the Colombo Plaza will commence next month. The project is scheduled to be completed in October, 2005. According to the General Manger of the hotel Rohan Karr the project would add 252 rooms. This would be in addition to the 249 rooms in the old wing. "Tourism is booming in Sri Lanka and there is a big demand for star calls rooms all over Sri Lanka especially in Colombo. This was the reason we went ahead with this investment," he said. He said funds generated from hotel profits would be utilised for the initial refurbishment program and they may borrow around 25 percent towards mid next year," he said. The estimates have been done in US dollars and there would not be any additional expenses. Karr with over 20 years' experience in the trade and having last worked at Marriot London, said that the Colombo Plaza is a good property which was underutilised. "We are also looking at doing a soft refurbishment for the old wing later next year," he said. The last financial year was good and this year they are expecting bigger profit margins. "With the present positive economic and political trends expected to continue, we are predicting at least a 18 percent increase in our profits by the end of this year," he said. The management also opened a new restaurant, 'Lagoon' last month with indoor and outdoor dining area overlooking an artificially created lagoon. The management had invested Rs. 17 million to convert their former kitchen and stores area to the Lagoon restaurant. "It has a separate entrance and is the first open sea food market style restaurant in Colombo," he said. Guests have the opportunity to pick from fresh oysters, prawns crabs and other sea food which would then be weighed and cooked to preference. "We have 150 ways to cook different types of sea food," he said. Formerly known as Oberoi, Colombo Plaza now owned and operated by Asian Hotels and Property Ltd is a subsidiary of John Keels Holdings Ltd. |
|
News | Business | Features
| Editorial | Security
Produced by Lake House |
