Sri Lanka approves 13 new hotel investments in Dec quarter

ECONOMYNEXT – Sri Lanka has approved for 54.7 million US dollars in hotel investments during the fourth quarter ending in December 2018, the state tourism office said.

Sri Lanka Tourism Development Authority (SLTDA) data showed the investments were across 13 new hotel projects, of which 12 were small, with less than 49 rooms each.

One project in Trincomalee will have 50 rooms.

In total, 264 rooms will be added to the national supply once the newly approved hotels finish construction, for an average of 20 rooms per hotel.

Four of the approvals granted are for hotels in the Galle district, and two are in the Gampaha district.

Another nine new hotels, worth investments of 14.8 million US dollars started their commercial operations during the quarter.

These hotels added 247 rooms to the national supply.

The SLTDA said the total registered room supply in Sri Lanka is now 38,214, up from 36,693 in the September quarter. These include hotels, guest houses, bungalows, homestays, and rentals. (Colombo/Feb20/2019-SB)