Business Times

Finco Leisure investments tops Rs.2.5 bln

Finco has invested a total of Rs.2.5 billion in the leisure sector – through its Ulagalla Resorts - with hotels established in the East and the Cultural Triangle and arrivals to the resort tipped to go up by 50% for this winter.

Targeting a niche high-end market the organization will be carrying out its marketing campaign in the UK, Europe, India and China. Occupancies during the peak season since the Ulagalla (Uga) Resorts opened in August 2010 had gone up to 35-40%.

With the oncoming winter season expectations are for improved bookings projected to be up by 50%, Uga Resorts General Manager Ranjan Dissabandara said at a recent press conference on the company’s plans.

Currently the resort in Anuradhapura obtains most of the travellers from the UK with intentions of attracting high-end Indian travellers as well compared to those visiting the country today.
In addition, they are keenly looking at targeting the high-end travellers from the Middle East as well.
The company is looking to breakeven operationally which is only possible with about a 45-50% occupancy.

Commenting on the uniqueness of the hotel, Mr. Dissabandara said it lies in the eco-friendly surrounding, sustainable construction materials used, minimum disturbance to environment combined with luxury. Uga Resorts plans to expand its portfolio by introducing two luxurious beach properties Jungle Beach at Kuchchaveli, Trincomalee and the second Uga Bay at Passekudah, Batticaloa that are scheduled for completion next year.

The Jungle Beach Resort creates an experience of both jungle and beach in one location with the resort being designed with minimum disturbance to nature. The offshore reef on the southern side of the bay is one of the major attractions at Uga Bay with a typical tropical experience.

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