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Asia Capital plans to invest in hotels in Sri Lanka
20 August 2011: Asia Capital plans to invest Rs 70 crore in hotels and plans to take two operating units public by 2013. Asia Leisure, the group's leisure arm, plans to build three luxury boutique hotels in Kalutara and Balapitiya in the Southwestern coast and in Trincomalee in the East.
Each hotel will include around 35 to 40 rooms. The company has already acquired one acre of land in Balapitiya and Trincomalee and is also looking for land in Kalutara and northern Jaffna. Currently, Asia Leisure operates four luxury boutique hotels: Park Street Hotel in Colombo, River house, Balapitiya, Tamarind Hill, Galle and Craigbank, Nuwara Eliya.
Source: Lankabusinessonline