Sino Lanka invests US $ 100 million in six projects
Sino Lanka Hotels Holdings in collaboration with the Thailand based
hotel management company ONYX Hospitality Group recently celebrated the
beginning of the construction of their 150 room OZO Hotel Colombo.
ONYX Hospitality Group signed a management agreement with Sino Lanka
Hotels Holdings for the development of several hotel projects in Sri
Lanka. Located on Marine Drive in Colombo 4, OZO hotel will provide
three star class hotel accommodation to leisure travellers.
In addition, Sino Lanka Hotels will add another two resorts in Kandy
with 120 rooms and Galle with 140 rooms in three months time. The OZO
Resort in Galle will be built directly on the beach and the company is
currently finalizing the feasibility for the third resort in Kandy.
These three hotel properties will be built with an investment of Rs
4.5 billion and the company is planning to open all their hotels by
2013. The hotels are owned by the Sino Lanka Hotels Holdings whilst the
management of these hotel projects will come under the ONYX Hospitality
Sino Lanka Hotels Holdings is a joint venture investment company
established by investors, Bob Kundanmal and Stefan Furkhan together with
Singaporean investors to develop hotels in Sri Lanka.
The company so far has acquired six sites in Colombo, Galle, Kandy,
Seenimodera, Chilaw and an island in Beruwala for the purpose of
developing hotels and resorts. The investment for all six projects is
around US $ 100 million.
Speaking at the ground breaking ceremony of OZO hotel Sri Lanka, Sino
Lanka Hotels Holdings Director Stefan Furkhan said “We aim to be at the
forefront of hotel development in Sri Lanka in the next decade and we
see the OZO brand as an ideal platform for bringing style and innovation
to the mid- market sector. We look forward to working with ONYX over the
coming years to bring these projects to life”.