Rs.10 bn Aviyana Private Chalet project to contribute US$ 500 mn to tourism earnings

The Rs.10 billion Aviyana Private Chalets , a distinctive ‘7-star’  luxury boutique hotel project aims to generate US$ 500 million in foreign exchange revenue next year with operations set to commence next year.

With an overall estimated investment cost of Rs.9-10 billion, Aviyana Private Chalets is currently at final stages of construction offering 60 individually styled star-class chalets, each promising a unique and enchanting experience.  The first set of chalets are scheduled to come into commercial operation from April next year, according to top officials of the company.

Addressing the media gathering in Colombo last week, entrepreneur and Aviyana Ceylon Chairman Dr. Thisara Hewawasam highlighted this unique project would be a significant boost to the tourism sector, with a projected contribution of US$ 500 million per annum.

According to Aviyana Ceylon Director - Operation Shezad Hameed, its business model is based on client purchases full or partial properties (chalets) at Aviyana upon the agreement of guaranteed rental returns. 

Aviyana offers an impressive 20 percent return on investment  per annum for investors. So far, over 200 such investors have come on board to invest in the project. 

Dr.Hewawasam stressed that strictly Sri Lankans are allowed to become investors of the project in order to retain forex earnings within the country.

“With our fixed ROI model, investors are guaranteed three confirmed bookings totaling US$ 3,000. This offer stands strong considering Sri Lanka’s current occupancy rate of 40-50 percent, translating to 12-15 room nights. 

Based on this, our minimum expected income falls between US$ 12,000 to US$ 15,000, which comfortably covers the ROI. Moreover, we present the option of Variable Income, distributing bookings on a 70:30 basis, 70 percent to the investor and 30 percent to Aviyana management. Given the occupancy ratio, it’s evident that Aviyana can reliably fulfill the ROI,” the company said. 

The company officials stressed that the revenue projections are based on a sound business model which focuses on Multi-tier Memberships, Direct bookings (Stays/Special Events and  Diverse Partnerships.

“Aviyana’s revenue generation starts well before the hotel’s active operations via these revenue generation channels. Here, direct bookings also include pre-opening bookings. 

This model is meticulously built to constantly meet and exceed the expectations of our shareholders,” the company said.

The company is also eyeing to provide private gaming experiences tailored for high rollers at its casino, which could emerge as a key revenue stream. 

They also noted that Aviyana’s strategic partnership with leading travel companies worldwide guarantees maximum exposure, promising a lucrative return on investment for property owners. 

In particular, the company officials acknowledged that a marketing campaign is currently under negotiation with Emirates Airways. Aviyana claimed to be a joint venture partner with the House of Nahyan, the ruling royal family of Abu Dhabi and one of the most influential dynasties in the United Arab Emirates.

Aviyana  officials also highlighted the strategic location of the project. Situated at the heart of the Knuckles Range, surrounded by Piduruthalagala, Hanthana, Nelligala, and Nuwara Eliya, Aviyana claimed to be strategically placed to harness the spiritual energy of this ancient island, offering an experience of transcendence. (NF)