Sri Lanka, Nov. 8 -- The Board of Investment of Sri Lanka has signed an agreement with LA' MORE Hotel (Private) Limited to set up, conduct and operate a 176 key 5-Star hotel project in Tangalle. The project represents an investment of US$ 35 million and will employ a staff of 355 members at the property. The agreement was signed by Mangala Yapa - Chairman of the Board of Investment of Sri Lanka and S Ganeshanadan - Chairman of the Amagi Group. Also present was Shrikant Dash - President of Business Development of Atmosphere Hotels & Resorts of the Maldives, who will be managing the 5-Star hotel project.
Shrikant Dash stated with regards to the new investment: "Atmosphere Hotels & Resorts is an Indian Ocean hospitality group currently based ...