0 billion rupees (78 million US dollars) given the opportunities that we have," Aitken Spence director Gehan Perera told a forum organized by Acuity, an investment bank.
A 30-year war which had hamstrung tourism ended in May 2009, and arrivals are up over 40 percent this year.
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Aiken Spence owns or operates 27 hotels with 2,020 rooms in Sri Lanka, Maldives, India and Oman.
The firm will refurbish and expand a 94-room hotel in Kalutara, formerly known as Golden Sun which it only managed at first but has since taken full control after a Singapore based shareholder sold out.
A hotel in Beruwala is being done up and will be relaunched as Heritance Mahagedera in early 2011 positioned as a 64-room specialized Ayurveda (a traditional South Asian healthcare system) resort.
Its premium hotels, branded Heritance, includes a 5-star resort next to a lake in Kandalama in central Sri Lanka, a former tea factory in the central hills an