The total investment in the new project including the cost of land will be Rs 3 billion and is expected to be completed by December 2012.
"Sri Lanka is on the threshold of unprecedented development especially in the leisure industry and we are well positioned, both in terms of organisational and financial capability, to capitalise on this opportunity," John Keells Holdings Chairman Susantha Ratnayake, said.
The ceremonial laying of the foundation stone took place on Saturday.
This new beach resort will be brought under the flag of Chaaya Hotels and Resorts, joining the family of six other 4-star resorts in Sri Lanka and the Maldives.
"In anticipation of this rejuvenated leisure industry in Sri Lanka, a total of over Rs 6 billion has already been invested and/or committed by the Group for construction and refurbishment of hotels in keeping with our goals of providing uncompromised customer satisfaction and an array of properties that showcase the best of Sri Lanka," he said.
John Keells Holdings Deputy Chairman Ajit Gunewardene said "we expect this winter to display the significant shortfall in the country's inventory to cope up with demand, particularly for quality star-class rooms."
He said that the potential and land available for development in the southern coastal belt is limited.
Chaaya Bey Beruwela will be the first star quality hotel property to be built from scratch since the end of the war.
John Keells Hotels Group is proud to pioneer one of the first major investments made towards addressing the deficit of star quality accommodation in the island.
source - www.dailynews.lk
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