Movenpick has struck a management deal with Sri Lanka's Softlogic group which is planning to build a 24-floor tower hotel in Colombo which will have 224 rooms.
"Any resort hotel would complement the city hotel here in Sri Lanka," Andreas Muller, chief operating officer for the Middle East and Asia of Movenpick said.
"We are known for resort hotels. We run big resort hotels of between 500 to 600 guest rooms. "We are looking at opportunities, when an opportunity presents itself."
Movenpick runs city hotels as well as resorts.
The group has a 12-year deal with options to extend another 10 years with Softlogic. Softlogic has interests in electronics and healthcare.
Muller says Movenpick's Colombo hotel will command prices of about 200 dollars a night when it is completed in two years time.
Muller said he is optimistic about prospects for Sri Lanka following the end of the war in 2009 and a more stable political environment.
He said the firm operated hotels in Yemen and Beirut and was used to managing risk. The Beirut hotel had around 95 to 100 percent occupancy, he said.
Muller expected strong growth in Sri Lanka with India and China also growing fast. Movenpick is expanding into Asia and is working with a number of local investors to build and open new hotels in Thailand and China.
The group has hotels in most of the Middle East and was evaluating two opportunities in Iraq. It had two hotels in Vietnam, one in Thailand, but would open three more soon.
The group will also soon open in Singapore, Malaysia and was evaluating more opportunities in China.
source - www.lbo.lk
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