The name derived from its initial owner Japan Asia Investment Company, who sold the hotel to Sri Lankan conglomerate, Hirdaramani Group in 2003.

The hotel received Tripadvisor's certificate of excellence for seven consecutive years in 2017.

[7] In 2021, Polic arrested seven persons involved in a scamming scheme in a raid at the hotel.

The culprits were staying at the hotel conducting their activities via social media.

[8] The hotel is consist of 165 apartments that can be rented for a day, a week or a month.