The city occupancy had dropped by about 10 per cent last year and Galadari Hotel alone had witnessed a dip of about 12 per cent, Galadari Hotel General Manager Sampath Siriwardena said in an interview with the Business Times.
He noted that while the lack of any major events in Colombo had hampered room revenues the Commonwealth forum in the city had not generated the promised results since not all rooms were full since the “numbers never came.”
Compared to 2013 the previous year was relatively better since there were events in the city like the conferences and the international cricket matches that brought in the numbers to Colombo, Mr. Siriwardena explained adding that an improvement on the numbers was expected in 2014.
The Galadari Hotel made gains amounting to Rs.286 million in profit in 2013 after tax compared to losses in 2012 of Rs.861 million, the company stated releasing their financials on Tuesday.
This was achieved through the conversion of the Rs.7.2 billion loan to equity as part of the hotel’s restructuring efforts.