Ariyana raises Rs. 10 bn locally for project through investors

Aviyana Hotel chief Dr. Thisara Hewawasam said that Sri Lanka’s first seven-star luxury boutique hotel, situated in the heart of the Knuckles mountain range, would be ready for opening next year.

Intended to bring in USD 500 mn in revenue annually, approximately 70 percent of Aviyana Private Chalets project had been completed with funds raised locally, the entrepreneur said, disclosing approximately 200 Sri Lankan professionals contributed required funding for the mega project.

Dr. Hewasawam said so during a meeting with journalists at Cinnamon Life over the weekend. According to him, there was an opportunity for more local investors to contribute to the project.

“We are also the largest investment-generated hotel being built in with 60 differently-styled star class chalets on offer,” Dr. Hewawasam said, adding that tourism would be the key to Sri Lanka’s efforts to restore and expand the troubled economy.

Spread over 27 acres of pristine land, the project has been launched in 2019 ahead of the Covid-19 eruption.The hotelier said that he was able to raise as much as Rs 10 bn for this project, locally, through private investors, mostly professionals, without resorting to bank loans or foreign funding. (SF)