Free WordPress Themes

Sri Lanka: Emerging contender in the luxury hospitality sector

August 2015

Following a protracted civil war, Sri Lanka is now emerging as a serious contender in the luxury hospitality sector, according to JLL.

Visitor figures have more than tripled from around 500,000 in 2003 to over 1.5 million in 2014 – the country’s best ever year. The Sri Lankan Tourism Development Authority is now targeting 2.5 million annual arrivals in 2016, which amounts to a compounded annual growth of over 25% year-on-year.

“A clutch of big name hotel brands are now either entering Sri Lanka or expanding their portfolios in the country. The debut of Thailand’s luxury Anantara brand in Sri Lanka is due in the third quarter of 2015 with the Anantara Tangalle resort set to open on the country’s south coast. The Anantara Kalutara, adjacent to the existing Avani Kalutara resort, also on the south coast of Sri Lanka, is scheduled to commence operations at the same time,” says Nihat Ercan of JLL.

In addition, Sheraton, Hyatt and Moevenpick have all announced hotel projects in Colombo.