Sunday, April 11, 2010

Hotel Nallur to open February 2011


Hotel facilities in the Northern Province are being enhanced following the peaceful situation prevailing in the region. Visitors to the North have considerably increased not only foreign tourists, but a very large number of the Southerners are visiting the North now. Accordingly, with the purpose of providing accommodation and meals to the visitors, a major hotel complex is coming up in Nallur.
The Merchant Bank of Sri Lanka PLC (MBSL) has decided to invest in the leisure sector in Jaffna to build a new hotel at Nallur, with the tourism boom. MBSL is a premier investor in Sri Lanka. They have decided to improve infrastructure facilities in Jaffna with an investment of Rs 400 million on Hotel Nallur in Jaffna.
The venture into the hotel sector by MBSL will set standards in the tourism industry and provide adequate facilities, MBSL Chairman Janaka Ratnayaka said to the Newspapers.
The hotel will be constructed on a considerable plot of land expected to be completed as early as possible to address the needs of influx of tourists to the Jaffna peninsula. “The intended investors on tourism infrastructure will take some time to establish on their investments. MBSL expects to finish the construction of Hotel Nallur by February 2011,” Ratnayake said.
The Hotel Nallur will be a BOI approved three star city hotel with 80 luxury, deluxe rooms and suites. It is expected to go for an Initial Public Offering in the near future. The intention of the IPO will be to invite public for the investment that MBSL has made. Hotel Nallur will create 150 job opportunities from the construction till the completion and it will be equipped with a swimming pool and vegetarian and non-vegetarian restaurants. Central Bank Governor Ajith Nivard Cabral patronized the launching of this project.
Projects of this nature while benefiting visitors to the region will also contribute much to the economic progress of Jaffna and its environs. With the end of conflict, the opening of A9 road and the ease of the security concerns, we have already seen an unprecedented increase of visitors to Jaffna. This significant influx of visitors has already created numerous income generating business opportunities with the increased employment, which will be an important driving force of economic growth in the region. In fact, we expect tourism in the country to be a US $2,000 million industry in the next five years and an increased level of investment is needed in the tourism sector in setting up new hotels and renovating existing one and an expansion of other services.
This hotel is but one among many of the infrastructure projects targeted for the north of Sri Lanka, which will gather momentum as more investments come to the region. It is also an important step to meet the increased need for hotel accommodation to meet the new targets for tourist arrivals to the country.

No comments: