The Blue Water to invest Rs. 450 m in new hotel
Shirajiv SIRIMANE
The Blue Water
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Ajith Wijeyesekera
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Union Resorts Ltd the managing and owner company of The Blue Water
would further invest Rs. 450 million to build a second hotel adjoining
the main property.
Chairman of the Hotel, Ajith Wijeyesekera, told Daily News Business
at the recently concluded ITB in Berlin that the new property would be
an all suite, 40 room property. “We are targeting the top end
clientele,” he said. He said that construction has already started and
they hope to have the property ready by winter 2013. “We hope to raise
the Rs. 500 million from equity and lending and with tourism booming and
more up market clientele patronizing Sri Lanka, we hope to break even in
four to five years,” he said.
He also said that The Blue Water is maintaining high occupancy with
the staff being paid an average Rs. 30, 000 as service charge per month.
The management is also looking at constructing two hotels in properties
they hold in Wadduwa and Sigiriya.
“We are yet to decide on which one we should concentrate first,” he
said. Wijeyesekera said that their new world class banquet hall which
was opened two years ago with an investment of Rs. 250 million is giving
them good returns.”
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