Nepali business mogul interested in city hotel
View(s):Binod Chaudhary, Nepal’s first billionaire and whose main interest in Sri Lanka is in tourism, is keen on acquiring a a city hotel in addition to other leisure sector investments he has.
He said that his investments in the Sri Lankan leisure sector are estimated at US$200 million. “My affair with Sri Lanka started 17 years back when the country was going through a rough patch. I was not concerned by the conflict it was going through at the time because I sensed its potential,” Mr. Chaudhary said, adding that this is his second home.
In a joint venture with India’s Taj group, he owns a 68 per cent controlling stake in the Taj Samudra Hotel. The same company also owns resorts in the Maldives. “In addition to all what we aim to do, we will be happy to look at a city hotel in Colombo,” he told the Business Times.
His Cinnovation Group (CG) has partnered with Jetwing and invested in two Jetwing properties—Jetwing Sea in Negombo and Jetwing Vil Uyana in Sigiriya. “We are expanding Jetwing Vil Uyana. It’s still on the drawing board, but we have great plans for this property,” he said, adding that they are also in the process of investing in an 85-room 5-star hotel in Kandy with an investment of $15 million. “A Singaporean architect has completed designing this property. We want to promote Sri Lanka’s high end tourism with Jetwing,” Mr. Chaudhary said.
CG has plans to bring the upmarket leisure brand Zinc Journeys to Sri Lanka and is refurbishing three bungalows in Hatton with 12 rooms to be developed as up market boutique lodges under this brand. “We own a similar operation in Bhutan and in China,” he said. He said that this will cater to high end tourists at premium prices. “It’ll be something to the tune of $ 2,000 a night,” he said.
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