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Tuesday, 10 April 2012

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Browns to build Rs 3 b hotel in Kosgoda

Browns Investments moving to the Southern belt is to build a 172 -roomed four star hotel in Kosgoda. Browns Investment Leisure Director and Chief Operating Officer Tilak Selviah told Daily News Business that they would invest Rs. 3 billion. The hotel on a five and a half acre land is targeted to be completed by 2013. The construction work has already commenced with 3oo people working on site. The BOI has given a 10 year tax holiday for the project.

Browns Investment will link up with an international hotel group to run the hotel.

This is a joint venture between Brown and Company and Taprobane Holdings. The company is negotiating with the tourist board to upgrade the hotel to five star level on completion.

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