Citrus Leisure, a publicly listed company in Sri Lanka’s hospitality industry has commenced the construction of a 150-room four-star hotel in the Southern coastal town of Waskaduwa.
In a corporate disclosure filed at the Colombo Stock Exchange (CSE), the company said that it had executed an agreement with the Board of Investments (BOI) of Sri Lanka on April 5th to invest up to US$ 23.77 million in the setting up of the hotel.
The four-star hotel is to be built on a seaside property in Waskaduwa in the Kalutara District and will have 150 rooms consisting of a presidential suite, 9 deluxe rooms and 140 superior rooms.
The hotel will also have extensive banqueting facilities and a health spa – it will also include water sports activities, the disclosure said.
The Company said the construction of Citrus Waskaduwa has commenced and will be completed within 18 months.
Citrus also plans to build a hotel in Kalpitiya and had acquired 78 acres of land. The land will be converted into a resort with 150 rooms and 28 waterfront villas, the company which has already opened Citrus Hikkaduwa last December, said.