Dr Binod Chaudhary, Nepal’s first billionaire as featured by Forbes was presented with the coveted Lifetime Achievement Award by HOTELiVATE at the THINC Conference held recently in Colombo. In recognition of his two decade journey in Sri Lanka and for paving the way for entrepreneurs around the world to emulate his unorthodox formula for success, Chaudhary today is a significant regional player in the hospitality industry.
THINC, the Tourism, Hotel Investment & Networking Conference also noted that Chaudhary had plans on having over 200 hotels within his ever expanding portfolio within the next two to three years and his infinite optimism in expanding in Sri Lanka at a difficult time.
Elated at being conferred this Lifetime Achievement Award at an audience comprising leading hoteliers in the region and Asia Pacific, Chaudhary reiterated that as Chairman of CG Corp Global he was very confident that Sri Lanka had the potential and hence investing in this country was a given.
“There was indeed an economic recession. The economy was in the doldrums and the tourism sector specifically faced permeating catastrophic consequences. Foreign capital was non-existent and Sri Lankans themselves were cautious about investing in their home turf.”
It was the Taj Samudra Colombo that first caught his eye and in 2001, joining hands with IHCL, CG Hospitality which is CG Corp’s hospitality arm, made his first major investment into the hospitality industry globally. “My inherent ability to spot potential also gives me confidence to take calculated risk,” he said.
“I did that with the Taj and was proved right.” The next step was to partner Jetwing Hotels. Forming Jetwing Zinc Journey, a JV between CG Hospitality and Jetwing Hotels, he added Jetwing Vil Uyana Sigiriya and Jetwing Sea Negombo into its portfolio.
These multi-award winning resorts which includes Jetwing Vil Uyana crowned as Best Eco Luxury Hotel by Harper’s Bazaar, spurred CG Hospitality to next add 10 properties across the country in partnership with Ceylon Hotels Corporation.
Under the Ekho Zinc Journey banner, the Sigiriya, Weligama and Ella properties have gained a tropical fillip through its renovation process and now stand as exotic signature properties.
Kithulgala and Belihuloya will be next in this portfolio. Chaudhary is very appreciative of the role played by Chairman of CG Hospitality Lanka Tilak de Zoysa for continuing to spearhead the Company’s journey onwards and upwards.
He is also proud of his partnership with IHCL, Jetwing Chairman Hiran Cooray, Chairman of the Galle Face Hotel Group Sanjeev Gardiner and Group MD of Sunshine Holdings Vish Govindasamy who’ve been towers of strength in Chaudhary’s tourism journey in Sri Lanka.