FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com


Join the forum, it's quick and easy

FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com
FINANCIAL CHRONICLE™
Would you like to react to this message? Create an account in a few clicks or log in to continue.
FINANCIAL CHRONICLE™

Encyclopedia of Latest news, reviews, discussions and analysis of stock market and investment opportunities in Sri Lanka

LISTED COMPANIES

Submit Post
Poll

Can there be another Covid-19 wave in Sri Lanka?

 
 
 

View results

STOCK MARKET TRAINING
ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post


CONATCT US


Send your suggestions and comments

* - required fields

Read FINANCIAL CHRONICLE™ Disclaimer


Latest topics

» DVP is unfair?
by niru Today at 10:59 am

» Delivery Versus Payment (DVP) on CSE!
by niru Today at 10:56 am

» ASSOCIATED MOTOR FINANCE COMPANY PLC (AMF.N0000)
by ForeigNer Today at 10:32 am

» EXPOLANKA HOLDINGS PLC (EXPO.N0000)
by DimuthuKW Today at 10:09 am

» RAIGAM WAYAMBA SALTERNS PLC (RWSL.N0000)
by shakthi1974 Today at 7:54 am

» ALLIANCE FINANCE COMPANY PLC (ALLI.N0000)
by Gaudente Yesterday at 11:55 pm

» Daily Foreign Transactions update
by Pradeep90 Yesterday at 11:08 pm

» LUCKY LANKA MILK PROCESSING COMPANY PLC (LLMP.N0000)
by Eranx Yesterday at 11:04 pm

» TOKYO CEMENT COMPANY (LANKA) PLC
by Zahara khan Yesterday at 10:40 pm

» Directors' Dealings 23/06/2021
by SAGA Yesterday at 10:07 pm

» SINH.N0000 (SINGHE HOSPITALS)
by SAGA Yesterday at 9:45 pm

» Top Foreign Trading today - 23/06/2021
by SAGA Yesterday at 9:05 pm

» Stock Market Entertainment
by samaritan Yesterday at 5:55 pm

» TOP 20 LISTED COMPANIES BY FINANCIAL CHRONICLE™
by Eranga87 Yesterday at 3:29 pm

» DVP යනු කුමක්ද? Explained
by samaritan Yesterday at 1:58 pm

» Money Printing Up Rs15.8B
by ResearchMan Yesterday at 11:58 am

» GLAS will be winner with Super Gain.
by ONTHEMONEY Yesterday at 7:16 am

» Top Foreign Trading today - 22/06/2021
by SAGA Tue Jun 22, 2021 8:50 pm

» RWSL for short term profits
by madukp Tue Jun 22, 2021 5:17 pm

» YORK has a potential to go double ...
by Vasyan Tue Jun 22, 2021 5:07 pm

EXPERT CHRONICLE™

MARKET CHAT


CHRONICLE™ ANALYTICS


ECONOMIC CHRONICLE

GROSS DOMESTIC PRODUCT (GDP)


CHRONICLE™ YouTube


You are not connected. Please login or register

FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Off season resort hotel rates too high?

Off season resort hotel rates too high?

Go down  Message [Page 1 of 1]

1Off season resort hotel rates too high? Empty Off season resort hotel rates too high? Sat Jul 28, 2012 8:43 pm

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
A major player in Sri Lanka’s hospitality industry has raised concern about occupancy in its resort hotels being below expectation with Mr. Susantha Ratnayake, Chairman of John Keells Holdings, raising the matter his statement released with the group’s June financials.

A knowledgeable industry spokesman said yesterday that Sri Lanka hotels seem to be over-pricing with its off-season rates too high compared to competing destinations like Thailand, Malaysia and Indonesia offering a better product at the price.

``The occupancies of the Sri Lankan resorts were below expectation,’’ Ratnayake said in his review. ``However, this fall was compensated to a certain extent by higher average room rates.’’

``We continue to reiterate the need for a concerted marketing campaign to create greater awareness of the destination to support to support the medium to long term sustainability of the industry,’’ he added.

Poor off-season occupancy has also raised concern about an `over-banked’ situation with many new hotels being built both in the city and in the resorts and room capacity being heavily expanded.

JKH’s first quarter results were excellent with the attributable profit up 34% to Rs. 1.24 billion from the comparable period a year earlier and first quarter revenue up 26% to Rs. 20.1 billion.

``Although the performance of the group in the first quarter is encouraging, its sustenance in the immediate future will be challenging as the increased input costs emanating mainly from the impact of the depreciation of the rupee, higher duties and tariffs on imported items and the increased fuel and electricity tariffs begin to take effect,’’ Ratnayake said.

He announced that a ``variety of steps and measures’’ had been taken to mitigate these impacts.

JKH’s Transportation and leisure groups had done well in the first quarter with transportation growing profit before tax (PBT) 33% to Rs. 957 million with growth primarily driven by the bunkering business. Leisure had grown PBT 73% to Rs. 648 million with the city hotels and the Maldivian resorts being the main drivers.

In the property segment, the Rs. 65 million PBT was down 24% from a year earlier. The new OnThree20 development project was on schedule with 30% of the work done and construction started on building a mall at Kapuwatte, Jaela.

Consumer food and retail had increased PBT 92% to Rs. 393 million with the ice cream business growing volumes but fizzy drink volumes flat with no little or no real growth seen in the sector.
http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=57906

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum