Beauty company to give four star treatment

Capital

Cosmo Trading PLC, a local beauty care products importing company, is finalizing the construction of its four star hotel in Bole sub city, behind the Saudi Arabian Embassy Residence.
According to the company, 90 per cent of the construction of New York - New York International Hotel has so far been completed and it will open its doors for guests before 2010.

Haileyesus Mengistu, owner and Managing Director of Cosmo Trading, told Capital that the overall construction of the hotel will consume 54 million Birr. "The construction of this hotel is just the beginning. We are planning to expand our presence in the Langano area as the place is becoming a haven for tourists and for retreat- seekers," he said.
Haileyesus added that the construction of the hotel was done by its sister company, Cosmo Trading Construction and Machinery Equipments Rental Company.
The newly constructed complex lies on a 615 sqm plot of land and the expansion of its parking lot and swimming pool is expected to be carried out once the adjacent land is secured by the company. The land was acquired by Cosmo Trading seven years ago from another lease holder for two million birr.

"The hotel will have 44 rooms, six penthouses, a bar and a restaurant that is on a par with the services provided by other four star hotels.
"The furniture is in the process of being imported from well-known brands from Spain," Negussie Awgachew, General Manger of New York- New York Café and Restaurant and Head of the Supervision in the new hotel's construction, told Capital. "It will create job opportunities for 150 to 180 people when it starts business."
Cosmo Trading, exclusive distributor of TCB Naturals and Palmers, among other products, added that it is planning to produce the imported beauty care products here in Ethiopia. "This will save a lot of foreign exchange and it means a lot especially at this time when there is an acute shortage of it, especially for importers," Haileyesus said.
In a related development, Cosmo Trading announced that it is in discussion with major cosmetics producing companies to deal with the current shortage of dollars. According to the plan, the company is preparing itself to send oil seeds and pulses to Kenya and South Africa, two of the major customers of Cosmo Trading, and in will then use the foreign exchange it earns to import cosmetics.

"It is time for all of us to come up with an innovative idea to deal with the shortages. There is no use just sitting idle. We hope we will succeed in our plans, thereby curbing the adverse effects the shortages will have on our company," Haileyesus remarked.