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Sri Lanka’s JKH poised to put more cash into leisure

Dilshan Wirasekara, Chairman of the Colombo Stock Exchange

Nov 22, 2009 (LBO) - Sri Lanka's John Keells Holdings is ready to invest nearly 6.
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0 billion rupees over the next two to three years in upgrading and building new hotels if tourism arrivals pick up after the end of a 30-year war as expected, an official said. By 2011 JKH would be ready to start a 100 room 5-star hotel at its existing land in Ahungalle.
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The project may cost 1.6 billion rupees.

It could also build another 4-star 120 room hotel in the East Coast on its existing or acquired property.

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JKH had access to property in Kuchchaveli as well as in Nilaveli, Gunewardene said. Deputy chairman Ajith Gunewardene said JKH was planning a 190 room hotel in Beruwela on which design work would be finished by next April.
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The hotel is expected to cost around 1.

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7 billion rupees, and will be a 4-star rated hotel coming under the group's mid-market 'Chaaya' brand.
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Its up market 5-star properties are branded Cinnamon.

JKH has a 10-acre long stretch in Beruwala, after it bought land from Sri Lanka's Confifi group next to an existing property.

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JKH's Beach Hotel Bayroo, in Beruwala was damaged during the 2004 Indian Ocean Tsunami.
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JKH has already closed its 80 room Club Oceanic Hotel in the Eastern coast of Trincomalee to be refurbished at a cost of 400

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