The proposed business hotels are likely to be of 3 star category with most of the five star amenities and the looks, according to the market sources.
However when Daily Mirror Business contacted JKH Deputy Chairman Ajit Gunewardena, he declined to comment over the matter, saying when there is anything material, the company would announce it following the proper protocol.
"We are considering various projects at various levels. But nothing has been finalized yet" Gunewardena said.
When asked about the ongoing constructions of the group's 200 room-four star hotel in Beruwala, Gunewardena said that the construction is progressing and they are hoping to start commercial operations of the hotel in the winter season of 2012.
JKH in 2010 said it was planning to invest nearly Rs. 6 billion during the next three years to refurbish its hotels and build new ones. Last year the conglomerate also revealed that it would start a 100 room 5-star hotel at its existing land in Ahungalle in the south west coast. The project may cost 1.6 billion rupees.
JKH has a 10-acre long land stretch in Beruwala, after it bought land from the Confifi group next to an existing property. The company also has its presence in the country's Eastern coast as it owns the 80 room Club Oceanic Hotel in Trincomalee.
The leisure sector of JKH recorded a PBT (Profit Before Tax) of Rs.955 million for the nine months ended December 31, 2010, an increase of 501 percent compared to the Rs.159 million recorded in the same period last year. The December quarter PBT increased by 90 per cent to Rs.632 million from the same period last year.
source - www.dailymirror.lk
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