Aitken Spence to invest in India
Aitken Spence Hotels will go for a joint venture hotel project with
an Indian hotel company Floatels India Limited in Cochin.
The total investment would be around US $ eight million and Aitken
Spence will undertake the management of the entire hotel under the
agreement, Managing Director of the Indian partner M. R. Narayanan told
the Daily News Business.
He said that Sri Lanka is currently going through a crisis period
resulting in temporary setbacks but will bounce back soon due to good
synergies between Indian and other markets in the world.
This joint venture would be a 50% partnership and Floatels India is
one of the up and coming hotel chains in India. Narayanan said Aitken
Spence Hotels already manage their resorts in India. “We jointly hope to
invest in other countries in the Leisure Sector,” he said.
At present they manage two leading hotels in Delhi and two more will
open shortly including another resort in the Andaman Islands.
Aitken Spence Hotels Deputy General Manager, Pradeep de Alwis said
this is an excellent opportunity to promote Indian tourists to Sri
“The Indian middle class is traveling overseas more frequently.
Therefore, Sri Lanka too could take a major share from this emerging
market,” he said.
Managing Director Aitken Spence Travel, Gehan M Perera said they are
heavily investing in Maldives, India and Oman markets in addition to
European markets to attract more tourists to Sri Lanka.
Meanwhile, German tourist arrivals to Sri Lanka had increased by 20
per cent from last November compared to previous years.
Chairman Sri Lanka Tourism Renton de Alwis said Germany was the
number one in the tourism market in 1982. However the arrivals had
decreased from time to time but now they are increasing.
“Despite the security concerns in the North and East, we were able to
achieve a 20 per cent growth in the sector, which is an achievement,” he
De Alwis speaking at a media event organised by Sri Lanka Tourism for
the foreign media yesterday said Sri Lanka is promoting the concept of
mind, body and wellness.
Alwis said that in another 10 years time Sri Lanka will be a carbon
free destination and tourism and environment will go together.