Wednesday, November 17, 2010
Laugfs to build hotel in Bangadeniya
Laugfs Holdings Limited will start construction work of the 100 rooms four-star hotel in Bangadeniya Chilaw in December. The hotel will be ideal for tourists since it is only one hour from the Bandaranaike International airport and can be used as a transit point for tourist travelling to the East coast of the country, Laugfs Holdings Limited Chairman W K H Wegapitiya told Daily News Business.
Under the first phase of the hotel, 74 rooms will be constructed within 18 months and under the second phase there will be 26 cabana model rooms. The hotel will target high end spending customers and Laugfs also expects to get the Small Luxury Hotel Association membership.
"The hotel will be managed by Laugfs Holdings which is currently managing Temple Tree Resort and Spa and Emerald Bay Hotel in Induruwa." The Laugfs IPO will fund the construction of this hotel and a serviced apartment in Maya Avenue, Colombo.
He said that the construction of the serviced apartment started two year ago and will be completed in another two years.
"We started construction of this apartment as a condominium but later wanted to finish it as a serviced apartment. The 72-room apartment has all facilities such as restaurants, pubs and conference halls to cater to a large number of tourists as well as locals," Wegapitiya said.
source - www.dailynews.lk