Asia Leisure announces plans for 100 room luxury hotel in Galle with an investment of Rs. 1.8 billion

9 September 2014 04:10 pm Asia Leisure, a fully owned subsidiary of Asia Capital PLC (ACAP) today announced the construction of a 100 room luxury resort in Galle, which is expected to be the largest hotel property in the southern coastal town. Asia Leisure currently owns and manages four globally acclaimed luxury boutique hotels in the south -- Shinagawa Beach, Tamarind Hill, The River House and Taprobana (opening in 3 weeks). Asia Leisure at present has a 70 room inventory and the new property will more than double its inventory to 170 keys. The property will be built on 2- acres of fine beachfront real estate and will be financed equally by Asia Capital and its Japanese partners. Construction is expected to begin at the end of the year and will take approximately two years to be completed. Speaking about the launch of this new property Mr. Stefan Abeyesinhe, the CEO of ACAP said, “As Sri Lanka surges towards becoming a tourism hub, the country has commanded keen interest from global tourism players, with its room inventory expanding through large volumes of foreign direct investments. Given the bullish prospects for tourism, our growing expertise in the leisure sector is of immense strength to the Group’s future. It is with a sense of optimism and accomplishment that we unveil this, our fifth and largest property to date.” Explaining the reasons for investing into this project Mr. Jin Sashida, the Chairman and CEO of City Creation Holdings Inc said, “The main reason I chose to invest in this project is because I realized that Asia Capital and City Creation Holdings share a very similar goal and vision. Also, Sri Lanka’s economy has been showing healthy growth over the past few years and we are fully confident that under this government this trend will only improve. This is promising for Sri Lanka as a whole and we are very happy to be part of the development of this country.” Photographs by Nirmala Dhananjaya