Sri Lanka Laugfs expects 398-room hotel chain by end 2014

Aug 30, 2012 (LBO) – Sri Lanka’s Laugfs group is expecting to have 398 hotel rooms operational by end 2014 under its ‘Ananthaya’ branded chain, chairman W K H Wegapitiya said. The chain includes a 75 room hotel in Sigiriya, a 125 room hotel in Waskaduwa a 110 room hotel in Passikudah and an 88 room hotel in Chilaw.

“We hope to open the Chilaw hotel soon,” Wegapitiya said. “We also want to build the hotel in Waskaduwa quickly.”

He said the group will invest 9.0 billion rupees in hotels.

Separately Wegapitiya told shareholders in the firm’s latest annual report that a 15-acre block in Waskaduwa with a 500 metre beachfront was acquired by Laugfs Leisure Ltd and international architects have submitted iconic designs for the project.

Architectural designs were also being prepared for the Passikudah property.

Sri Lanka has seen a boom in tourist arrivals following the end of a 30-year war in 2009 and many business groups are getting in to the business.

Sri Lanka’s tourism authorities are expecting 45,000 room to be available by 2016 from the current 23,000 when arrivals are expected to reach 2.5 million. In 2012, authorities are expecting 1,050,000 to