Over US$ five billion investment:

PJ Hotels goes for four seven star hotels

Charumini DE SILVA

PJ Hotels (Pvt) Ltd., will develop a range of hotels and will open four seven star hotels under the brand name ‘Our Way’. Most of the investors are Asians and mainly Indians and Chinese investors will contribute, since they are in the region, as they understand the necessity.

Prasanna W. Jayawardene

“The investment of these hotels is nearly US$ five billion. Through the development of these hotels the GDP and per capita income will grow substantially. The company will open a hotel with 1,000 rooms in Mannar under the tagline ‘Northshore Icon’.

These hotels will be constructed with an eco-friendly method and construction work will commence in the next four years.

The target market for the range of hotels is mainly Asians as they have shown a huge interest in exploring Sri Lanka”, said Chairman, PJ Hotels (Pvt) Ltd., Prasanna W. Jayewardene.

Asia has half of the world’s population and it has the fastest growing economies. This population is keen on travelling around the world and Sri Lanka has the potential of attracting more tourists to the country with the dawn of peace.

Sri Lanka as a tourist destination has great potential among investors who are eager to invest in the Northern and Eastern provinces. The coastal lines in these areas are very attractive, as it has not been affected due to the war, which drove the country backwards for three decades.

“There are possibilities of developing games since tourists will arrive and be a part of it while travelling around the country. The surfing beach in Arugam Bay will capture the attention of many local and foreign tourists. In addition these activities will contribute to increase foreign exchange earnings”, he said.

President Mahinda Rajapaksa has already declared the year 2011 as the ‘Visit Sri Lanka Year’ and is expecting 2.5 million tourists by the year 2016. The Northern province will be one of the most developed provinces within the next few years.

Tourists will not only arrive by air, but the ferries will also increase, especially with India. In addition the Sri Lankan diaspora will also join to build and invest in Sri Lanka since their response is tremendous.

“With the development of these hotels in the Northern and Eastern provinces many job opportunities will be created and many jobs will be created within the area. Meanwhile, the other sectors related to tourism and the hotel industry will motivate their business”, Jayewardene said.

“Sri Lanka is enriched with vibrant cultures. Many religious and cultural celebrations will take place in every nook and corner and the people will be enthusiastic to experience these events. The whale and dolphin watching trade has many opportunities and these sectors have to be enhanced with innovative ideas, as they will contribute to the country’s economy vastly”, he said.