Earl’s Regent Negombo opened with an investment of Rs. 1.2 billion

Adding another star class property to Negombo, Earl’s Regent opened with an investment of Rs. 1.2 billion. Earls Hotels & Resorts Kandy has invested over Rs. 4 billion in the last three years for acquisition of hotels and to build several new hotels in Sri Lanka and Japan.  Owned and operated by Earls Hotels & Resorts the hotel opened with 31 rooms and will add 48 more rooms in six months. “We have completed Rs. 850 million of the investment so far and will complete the remaining rooms in six months time,” Director Emal Gunasekera stated. He said that they will also add two banquet halls, which are under construction to accommodate around 700 guests and will actively promote destination weddings and MICE events from the region.

Mr. Gunasekera disclosed that Earls Hotels & Resorts has also acquired two boutique hotels in Japan and this would be their first overseas leisure venture. “Both hotels would have around 4o to 50 rooms each and would be marketed for up market clientele.” He also spelt out plans to branch out to the Maldives and said they were looking for an acquisition. The group has also invested over Rs. 850 million to construct Early Kurunegala which will be opened at the end of the year. The group also acquired Hill Top Kandy and have completely demolished the property and are building a new 100 plus room hotel. The investment for this is over Rs. 1.5 billion. Mr. Gunasekera said the group is confident that the local travel sector would pick up and this is why they are aggressively investing and expanding in this sector.