Category: Tourism

Jan 29, 2012 (LBO) – India’s ITC group has paid a 50 percent advance payment for beachfront land in Sri Lanka’s capital Colombo where it plans to build a luxury hotel, a media report said. The Sunday Times newspaper quoted economic development minister Basil Rajapaksa as saying that 73.5 million US dollars or 50 percent […]

Jan 25, 2012 (LBO) – State-run Sri Lanka Insurance Corporation will lead a consortium to invest and finish a half built high rise which the leisure group Hyatt has agreed to manage, economic development minister Basil Rajapaksa said. State-run Bank of Ceylon, People’s Bank and the state managed Employees Provident Fund and Employees Trust Fund […]

Jan 24, 2012 (LBO) – Galadari Hotels (Lanka) Plc, a hotel in Sri Lanka’s capital Colombo said it lost 199.6 million rupees in the December 2011 quarter against a profit of 35. 4 million rupees a year earlier, hit by an exchange loss. Galadari has 9.1 billion rupees in accumulated losses and 1.3 billion rupees […]

Jan 20, 2012 (LBO) – Sri Lanka’s Richard Pieris & Company group plans to invest in the hotel sector as part of its diversification strategy amid a boom in tourists arrivals, an official said. The company is scouting for a suitable land to build a hotel, the group’s operations director Ravi Liyanage told Vimasuma.com, our […]

Jan 18, 2012 (LBO) – Sri Lanka’s HSBC Galle Literary festival kicks off Wednesday with award winning writers, historians and poets from Canada, England, Germany, India, Ireland, Palestine, Singapore, United States and Sri Lanka taking part. Organizers are expecting more visitors to the festival this year with a new expressway cutting down travel time to […]

Jan 17, 2012 (LBO) – Sri Lanka’s Softlogic Holdings group plans to build a luxury resort on the island’s east coast with an investment of 200 million rupees in deal with Ominga International, a statement said. The company entered into a shareholders’ agreement with the shareholders of Ominga International (Private) Limited on January 13, 2012 […]

Jan 17, 2012 (LBO) – Sri Lanka’s small leisure sector players including many start-ups will showcase their services at an industry fair on January 31, where they can link up with larger players, officials said. “A large number of small guest houses, restaurants have come up in many areas some in very beautiful locations but […]

Jan 14, 2011 (LBO) – Sri Lanka is leading on low holiday costs for Britons with competitive prices for eight popular holiday items surveyed including a dinner for two, an annual survey by UK’s Post Office showed. Sri Lanka had the lowest holiday costs among 40 destinations surveyed at 27. 95 British pounds down 31 […]

Jan 11, 2012 (LBO) – Sri Lanka has received 210 applications worth two billion dollars for new tourism projects in 2011 as the sector became a target for investors after the end of a 30-year war, a minister said. In 2012, the industry will add another 2,500 rooms, he said. Deputy economic development minister Lakshman […]

Jan 06, 2012 (LBO) – Sri Lanka’s tourist arrivals in 2011 jumped 30.8 percent to a record 855,975 from a year ago with the peak season month of December also at a new high, the tourism office said. The South Asia region accounted for the second biggest increase in arrivals which shot up 35. 3 […]

Jan 03, 2012 (LBO) – Sri Lanka’s LOLC group has acquired control of a beach resort catering to up-market European tourists at a cost of just over a billion rupees, a stock exchange filing said. “The hotel which is much sought after by an exclusive clientele of European tourists has potential for even further expansion,” […]