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03 April, 2014 08:28 AM Source: Financial Times - Sri Lanka
Heritance-Ahungalla Hotel.JPG

President Mahinda Raja-paksa is scheduled to ceremoniously open Citrus Waskaduwa, the latest 150-room five-star class resort, on Sunday.
Economic Development Minister Basil Rajapaksa will be the Guest of Honour.
The company has invested Rs. 2.7 billion to build the resort with added luxury, upgraded facilities including four new restaurants, expanded banquet/conference facility to cater to 200 pax, an outdoor amphitheatre on an adjoining 80 perch land and new amenities to provide a high-end hospitality offering.
Originally it was to be a four-star resort to be built at Rs. 1.8 billion. However, to better harness the prospects for luxury hospitality the resort was upgraded to a five star. This and cost over-runs pushed the cost by a further Rs. 900 million.
Citrus Leisure owns a 59% stake in Citrus Waskaduwa and Vallibel One PLC holds a 20% stake.

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