Singapore investment of $3 m in Peacock Beach Hotel
View(s):The Guruge Group has formed a joint venture with Lankaila Pvt Ltd, a Singapore-based company, for one of its subsidiaries – Peacock Beach Hotel in Hambantota.
Lankaila will invest US$3 million (around Rs. 1 billion) to infuse capital for this joint venture with Peacock Beach Hotel, Hambantota owned by the Guruge Group, the company said in a media release.
“Under this new partnership, the hotel will undergo a Rs. 200 million renovations before the relaunch of the renowned brand Peacock Beach Hotel well known for its warm Sri Lankan hospitality and beautiful serene beachfront setting,” said Director, Guruge Group Dulani Guruge. With the new partnership, the hotel will operate under the same brand name, Peacock Beach.”
The Guruge Group’s flagship subsidiary ‘Guruge Gems’ will also launch its showroom within the hotel showcasing precious Ceylon gems and a premier jewellery range to the cater to the growing demand among tourists for Ceylon sapphires and other gemstones, said Guruge Gems Chairman Gayan Guruge.
Guruge Gems, one of the pioneers in the gem industry and the largest gem mining license holder in Sri Lanka hopes to join hands with Lankaila’s subsidiary, Blue Diamonds to explore and export precious Ceylon gems to the European and Asian markets.
Chairman, Lankaila, Dhakshitha Bogollagama said that they also plan to install solar energy in most of the parts of the hotel and also upgrade rooms, conference facilities and many other infrastructures. He said that they decided to invest in Peacock Beach Hotel Hambantota as it is the second largest hotel in the area after the Shangri La Hotel.
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