Lion Royal Group to invest Rs 400 mn on two hotels

Coco Royal Resort in Kalutara

Lion Royal Group of Hotels will be investing over Rs. 400 million to build two hotels in Digampathana Sigiriya and in Unawatuna.

Lion Royal Tourism and Lion Royal Resorts Chairman and Managing Director Dilan Wickramasinghe said that they have already acquired land for these two projects. “We will start construction by end of this year and the hotels should be ready for 2017 winter.”

“These hotels will be built and marketed on the line of city hotels and they will be affordable to guests.While being sold as budget hotels the two properties will have swimming pools in both hotels and all other luxury facilities.”

The Galle hotel to be built in Unawatuna will offer 50 rooms and the company hopes to invest Rs. 300 million for it. The budget hotel in Digampathaha Sigiriya would consist of 40 rooms and would be Rs. 75 million investments.

“We hope to invest out own money and bulk of the investment would come from borrowings.”

Currently the group own and operate the Kasspa Lions Rock hotel in Sigiriya with 51 spacious rooms and Coco Royal Resort in Kalutara with an inventory of 67 keys. “We will also re invest in Coco Royal Kalutara. A former Tour guide for the French market since 1983,Wickramasinghe said that he first invested in a hotel since he felt that he could offer a better product for a lower rate. 
Lion Rock Hotel in Digampathana Sigiriya

Source : http://www.dailynews.lk/?q=2016/07/27/business/88668

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