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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » DAMRO into Hotel business

DAMRO into Hotel business

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1DAMRO into  Hotel business Empty DAMRO into Hotel business Thu Jun 06, 2013 4:56 pm

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics
Famous Furniture manufacturing and retailer Damro , the latest to join post-war leisure sector rally, had ground breaking ceremony today on their US $ 40 m worth 270-room city hotel in Colpetty.

The company today started the work on a one and half acre site in Colpetty to build a 270-room star class city hotel named ‘Marino Sands Hotel’ with an investment of $ 40 million.

Alongside the hotel, which has access from both Galle Road and Marine Drive, will be a modern department store spanning 100,000 square feet as well.


The hotel will be a 12-storey building with a total space of more than 400,000 square feet. There will be three basements for parking and two floors dedicated to a department store. Piling has already commenced by Nawaloka Piling and with a target period of three years for construction, Marino Sands will open in 2016.


DAMRO into  Hotel business Bucket-right-Damro


http://www.ft.lk/2013/06/06/post-war-rebound-lures-damro-to-diversify-into-tourism-sector/

2DAMRO into  Hotel business Empty Re: DAMRO into Hotel business Thu Jun 06, 2013 7:43 pm

econ

econ
Global Moderator
OMG. once again hotel investment.. We may see more hotel rooms than tourists in near future.. Very Happy

3DAMRO into  Hotel business Empty Re: DAMRO into Hotel business Thu Jun 06, 2013 8:52 pm

UKboy

UKboy
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
At last….. glad to see a company is trying to attract more middle class tourists than high end or top end guests or whatever they called it.. Hope their prices also more affordable. Most of our investors are still aiming high end market (Hotels, Apartments, Office spaces).

There’s gap in the market for this kind of hotels in Colombo (clean and efficiency yet affordable for a middle class foreigner).

No all the tourists need super luxury beds to sleep.

http://www.dailynews.lk/2013/06/06/bus01.asp

4DAMRO into  Hotel business Empty Re: DAMRO into Hotel business Thu Jun 06, 2013 9:43 pm

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics
@UKboy wrote:There’s gap in the market for this kind of hotels in Colombo (clean and efficiency yet affordable for a middle class foreigner).

No all the tourists need super luxury beds to sleep.

Very Correct.

In Bangkok anybody can enjoy star class hotel life under 50 US$ BB / 2 persons.
That means about 3,500 per person with super duper American breakfast.

Eg. Prince palace Hotel -4 Star- 1800 Baht Deluxe room for two persons BB. ( Internet price 2200 B)


DAMRO into  Hotel business Lead_fact1

DAMRO into  Hotel business Deluxe_b

DAMRO into  Hotel business Prince_b

For those who wanted to find more affordable places there are many 2 Star level motels under 25 US$ range without Breakfast. Eg. DD House , Prathunam 700 Baht. A/C room for 2 people. (Rs. 2800 )

5DAMRO into  Hotel business Empty Re: DAMRO into Hotel business Fri Jun 07, 2013 12:20 am

manula


Vice President - Equity Analytics
Vice President - Equity Analytics
so all the furniture from DAMRO only.... Very Happy

6DAMRO into  Hotel business Empty Re: DAMRO into Hotel business Fri Jun 07, 2013 1:26 pm

Aubrey Perera


Vice President - Equity Analytics
Vice President - Equity Analytics
Very true Chinwi !!! our peple increased prices too fast too soon ...that's why most of the top end hotels are drying ....because we attract mid income tourists not high end and they prefer to stay in budget hotels....even for Sri Lankans it makes sense to go spend a bit more and go abroad on a holiday than pay the exorbitant prices that are charged in Lanka....we have increased prices but not improved product or service much which is the other problem.

7DAMRO into  Hotel business Empty Marino Sands Hotel Sat Jun 22, 2013 8:35 pm

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
Damro, South Asia’s Largest Furniture Manufacturer has now ventured into tourism in Sri Lahka and plan to build a 270 room luxury hotel and a department store with an investment of USD 40 million.

Named Marino Sands, the hotel will be located in a spectacular site of Colombo city – at Colpetty extending from Galle road to Marine Drive in one-and-a-half acres of land. This would be a 12 storey building with more than 400,000 sq. feet. There will be 03 basements for parking and 02 floors dedicated for a department store. Piling has already commenced by Nawaloka Piling and with a target period of 3 years for construction Marino Sands will open in 2016.

Marino Sands Hotel runs as a BOI project under the guidance and support of ‘One Stop Unit’ of Sri Lanka Tourism. This is also monitored and supervised by the Urban Development Authority and Coast Conservation Department.

Here are some of the great features the hotel guests can expect:

DAMRO into  Hotel business Ll-pv-10

Variety of spacious luxury rooms, Private balcony for every room, Unforgettable experience at the ‘Rooftop Infinity Pool’, Panoramic views of the sea & city, In-house department store

Away from the conventional concept, Marino Sands’ sole priority will be placed on the room guests, assuring that all the facilities will be dedicated for their comfort during the stay.

This hotel will be complimented by a 200ft. ‘Roof-top Infinity Pool’, the only one of its kind in Sri Lanka. The ‘Observation Deck’ adjacent to the Infinity Pool will provide the guests a unique experience of a bird-eye view of the sea and the harbor, gazing over the Colombo skyline.

Luxury accommodation will come in a variety of categories, having a separate balcony for each room to enjoy the beauty of the Indian Ocean. The project will be completed with 270 rooms inclusive of suite rooms. All guest rooms will have an ample space of 385 sq. feet. The hotel will offer rooms to meet every traveler’s requirements.

There will be a roof-top restaurant in addition to 3 sea view restaurants. These will exclusively serve the room guests, who would be privileged to enjoy a peaceful, crowd free dining experience.

The 100,000 sq. ft. department store located at the ground floor will give the hotel guests a shopping experience with quality branded items at a reasonable tag. Prices will be very competitive here compared to other department stores in Asia. Competitive pricing can be maintained as the government has relaxed the duties on electronic items and the development of local garment industry. This department store will be a key feature to attract the foreigners who travel for shopping abroad.

Guests at Marino Sands will definitely be impressed by a stress-free stay with a combination of our warm service, contemporary comfort and the very latest technology along with true Sri Lankan hospitality.

Damro owns a strong showroom dealer network in India. Currently it has 55 showrooms plans to increase the number up to 100 by year 2016. The hotel will be promoted to Indian middle-class through this branch network and aims to attract 50,000 ‘new tourists’to Sri Lanka annually.
http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=81906

8DAMRO into  Hotel business Empty Re: DAMRO into Hotel business Sat Jun 22, 2013 8:44 pm

sandunj


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
I think all hotel builders targeting beyond year 2016... Why Damro not listed yet?Question

9DAMRO into  Hotel business Empty Re: DAMRO into Hotel business Sat Jun 22, 2013 9:27 pm

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics
Damro owns a strong showroom dealer network in India. Currently it has 55 showrooms plans to increase the number up to 100 by year 2016. The hotel will be promoted to Indian middle-class through this branch network and aims to attract 50,000 ‘new tourists’to Sri Lanka annually.

This is interesting. There presence in India through showrooms will create unique system of bringing guests here. 

Damro was started as a small venture by Mr.  Dhamitha Ramanayake in 1986 with 10 workers in a place in Nittambuwa. DR  is still the Head of the group. Initially made steel furniture later ventured into plastic  by getting technological support from Malaysian suppliers. 


They opened their first offshore showroom in Madras (Chennai) in October 2000. Now they have many in India  and some in Australia too. 


Their strength is having presence in many locations with good supply chain management while exploring new technology related to their productions.

10DAMRO into  Hotel business Empty Re: DAMRO into Hotel business Sat Jun 22, 2013 10:36 pm

rainmaker


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
The land on either side of that property is not cleared ..... Hence it won't get the "town hall" effect you see in the first picture


As an aside Taj is developing 6 hotels along with the Airport hotel expansion.

11DAMRO into  Hotel business Empty Re: DAMRO into Hotel business Sat Jun 22, 2013 11:17 pm

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics
Guess the number of rooms will be available in the colombo by 2017?

I guess another 5 to 10 hotel projects might come up in colombo before this year end!

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