Sri Lanka, April 26 -- ITC Limited's wholly owned subsidiary WelcomHotels Lanka (Private) Limited has invested USD 500 million to launch the 352-room hotel, ITC Ratnadipa in Colombo adding a major landmark to the local tourism and hospitality landscape.

Chairman and Managing Director, ITC Ltd, India, Sanjiv Puri, said that they invested in this hotel at a time when Sri Lanka's tourism sector was ailing but they had confidence in the destination Sri Lanka as they saw future potential.

"Sri Lanka has amazing tourism potential which is yet to be exploited and India tourism is growing leaps and bounds and they are looking for destinations and Sri Lanka fits their taste."

He also said that youth too want to travel and through several road s...