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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Aitken Spence hotels on Rs.7.7 bln refurbishment, construction drive

Aitken Spence hotels on Rs.7.7 bln refurbishment, construction drive

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CSE.SAS

CSE.SAS
Global Moderator
By Sunimalee Dias

Aitken Spence has invested approximately Rs.7.7 billion towards refurbishment of its hotels around the country, an official said.

This has been spent on refurbishment and construction work of the group’s key hotels, Aitken Spence Hotels Managing Director Malin Hapugoda told the Business Times.

The group’s acquired hotel at Waskaduwa, the former Golden Sun was completely refurbished as ‘The Sands’ adding 90 rooms, he said. In addition they would commence construction of more rooms totalling upto 200 by winter next year, Mr. Hapugoda said.

The company completely demolished Browns Beach and started construction of a brand new hotel with the first stage incorporating 150 rooms that would later be increased upto 180 in the second stage with an additional state-of-the-art technology and conference centre.

The first stage would also involve a banquet hall and other facilities and the hotel is scheduled to be ready by October 2013 at a total cost of Rs.4.5 billion.

One of the group’s first eco friendly hotel in Kandalama has invested in a state-of-the-art conference centre scheduled for completion by end of July to accommodate 350 guests located with a view of the jungle and the lake at a cost of approximately Rs.300 million.

A further approximately Rs.150 million was spent on refurbishment of 80 of the hotel’s rooms.

The Tea Factory has also been completely refurbished at a cost of Rs.300 million and an additional spend of approximately Rs.18 million was incurred on road construction work leading upto the hotel.

http://www.sundaytimes.lk/120624/business-times/aitken-spence-hotels-on-rs-7-7-bln-refurbishment-construction-drive-3800.html

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