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Wednesday May 19th, 2021
Business

Maldives resort chain to run new US$35mn 5-star hotel in Sri Lanka

ECONOMYNEXT – A Maldivian resort chain is to manage a five-star hotel to be built in Sri Lanka’s southern Tangalle region with an investment of 35 million US dollars, the investment promotion agency said.

The Board of Investment said it had signed an agreement with La’ More Hotel (Private) Limited to set up and operate the 176-room hotel in Tangalle which will provide employment for 355 people.

Atmosphere Hotels & Resorts of the Maldives, which has five resorts in the archipelago, will be managing the Sri Lankan hotel, a statement said.

The BOI agreement is with the Amagi Group, a big Sri Lankan seafood exporter, and Atmosphere Hotels & Resorts of the Maldives.

“Atmosphere Hotels & Resorts is an Indian Ocean hospitality group currently based in the Maldives,” its President of Business Development Shrikant Dash said.

“We strongly believe in Sri Lanka’s expansion and growth as a top tourism destination for travellers world-wide.”

“We opted for Tangalle because it is an ideal location, which offers a unique old-world charm and is far less crowded than other developing tourist areas in the province, such as Galle.”
(COLOMBO, 06 November 2019)

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