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Sino Lanka invests US $ 100 million in six projects

Sino Lanka Hotels Holdings in collaboration with the Thailand based hotel management company ONYX Hospitality Group recently celebrated the beginning of the construction of their 150 room OZO Hotel Colombo.

ONYX Hospitality Group signed a management agreement with Sino Lanka Hotels Holdings for the development of several hotel projects in Sri Lanka. Located on Marine Drive in Colombo 4, OZO hotel will provide three star class hotel accommodation to leisure travellers.

In addition, Sino Lanka Hotels will add another two resorts in Kandy with 120 rooms and Galle with 140 rooms in three months time. The OZO Resort in Galle will be built directly on the beach and the company is currently finalizing the feasibility for the third resort in Kandy.

These three hotel properties will be built with an investment of Rs 4.5 billion and the company is planning to open all their hotels by 2013. The hotels are owned by the Sino Lanka Hotels Holdings whilst the management of these hotel projects will come under the ONYX Hospitality Group.

Sino Lanka Hotels Holdings is a joint venture investment company established by investors, Bob Kundanmal and Stefan Furkhan together with Singaporean investors to develop hotels in Sri Lanka.

The company so far has acquired six sites in Colombo, Galle, Kandy, Seenimodera, Chilaw and an island in Beruwala for the purpose of developing hotels and resorts. The investment for all six projects is around US $ 100 million.

Speaking at the ground breaking ceremony of OZO hotel Sri Lanka, Sino Lanka Hotels Holdings Director Stefan Furkhan said “We aim to be at the forefront of hotel development in Sri Lanka in the next decade and we see the OZO brand as an ideal platform for bringing style and innovation to the mid- market sector. We look forward to working with ONYX over the coming years to bring these projects to life”.

Courtesy: DailyNews

Posted on Monday, February 27, 2012 @ 18:49:59 LKT by

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