Jetwing sets up office in Japan

Leisure industry giant, family-owned Jetwing Group has set up an office in Tokyo to tap more high spending Japanese tourists to its resorts.

Jetwing Chairman Hiran Cooray who attended the NWS Holdings Sri Lanka Investor Forum in Tokyo earlier in the week told the Daily FT that an office had been set up in partnership with a specialist in tour operations.

“It is an equal stake joint venture. We have identified Japan as a key market to source directly and for this we needed to have a dedicated presence and a partner who has the knowledge and network on the ground,” Cooray said on the sidelines of the forum.

Jetwing first participated in the NWS Holdings’ Forum last year, enabling it to assess interest in the Japanese market first-hand. Encouraged by the response and the future potential, Jetwing opted to forge a new strategy. Jetwing also manages Bansei Securities’ first investment in leisure – Bansei by Hotel J in Hikkaduwa. 

Jetwing is also exploring new Japanese investor interest into private equity with the Lankan family-owned leisure giant looking at listing its new venture Symphony (currently building a city hotel and a few other resorts) at a future date. Jetwing Symphony has previously announced four properties – JetwingYala, Colombo, Dambulla and the two properties in the east – as part of major expansion with an estimated overall investment of Rs. 8 billion.

In 2014 Jetwing added 162 rooms and villas to its portfolio. The Group has around 10 hotels and 12 villas in operation with a room and suitestrength of nearly 600 and over 50 villas.