SRI Lanka’s third-largest hotel chain Jetwing Hotels is in expansion mode, with plans to nearly double its room stock over the next 24 months.
Jetwing Hotels’ chairman, Hiran Cooray, told TTG Asia e-Daily that the family-owned group would increase its current inventory of 540 rooms by another 400.
Four new hotels – Jetwing Yala, Jetwing Colombo, Jetwing Dambulla and Jetwing Reef Uppuveli – would be set up under the company’s new subsidiary, Jetwing Symphony.
Another property on Arugam Bay would be added on later, Cooray revealed, adding that there are plans for an IPO for the subsidiary in due course.
“We are absolutely bullish about the present (economic) situation,” he said.
Meanwhile, Jetwing’s Hotel J, said to be the country’s first budget property, is set for an April opening in Negombo. The hotel will offer customers a five-star bed, shower/toilet and Internet access for US$35-70 a night. Guests will pay for add-ons, including food.
Jetwing, which currently has 13 properties across the country, will also be managing a hotel in Chennai, India, opening at the end of the year. The company had slowed its overseas activities after the Sri Lankan market became active when the civil war ended in mid-2009.
“Our overseas development slowed down a bit because of the development back home. We earlier focused on Laos and Vietnam, and still manage our properties there. We also own a property in New Zealand,” Cooray said.
