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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » HOTEL AND TRAVEL SECTOR

HOTEL AND TRAVEL SECTOR

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51HOTEL AND TRAVEL SECTOR - Page 3 Empty Hotels and Travels Sector Tue Jan 01, 2019 8:53 pm

ruwan326


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Hotels Association poised to make major economic contribution
2019-01-01

The hotel industry remains the only industry in the country which has the potential to turn around the sluggish economy. We eagerly look forward to the opportunity of partnering with the government in taking Sri Lanka’s economy to new levels, with proper incentives and conditions in place similar to those in other countries in the region, The Hotels Association of Sri Lanka (THASL), said in a year-end statement yesterday.

HOTEL AND TRAVEL SECTOR - Page 3 Image_1546324403-264718677cHOTEL AND TRAVEL SECTOR - Page 3 WAAACH5BAEKAAAALAAAAAABAAEAAAICRAEAOw==
“We further request the government to pursue both legal and policy reforms that will recognize tourism as an export industry and establish the necessary framework for a vibrant, diverse and successful tourism industry in Sri Lanka,” THASL President Sanath Ukwatte said.


THASL requests the government, once again, to treat the industry fairly. “Excessive and arbitrary taxation has made it very difficult for our member hotels to compete with other regional countries. Sri Lanka’s hotels pay 22 percent tax on the total revenue (not profit) in addition to corporate income tax (on profit). 

This includes taxes such as Value Added Tax (VAT), Nation Building Tax (NBT), Tourism Development Levy (TDL) and Economic Service Charge (ESC). This multiple taxation on both revenue and profit creates an environment that is unfavorable for Sri Lanka’s hotels and thereby makes our tourism offering uncompetitive in comparison to our neighbours. This is our strongest disincentive in developing the tourism industry.”


“In addition to the existing revenue-based tax burden, the tourism industry is also faced with municipalities and local governments threatening to charge an additional 1percent tax on total revenue. We believe this tax is entirely unrealistic, discriminatory and arbitrary as it only targets the hotel industry. Hotels already pay annual municipal and local government rates to cover municipal and local government services. We request the Government to abolish all such arbitrary taxes and adopt a simplified and fair tax policy similar to that applicable in other countries in the region. This is an urgent priority,” Ukwatte added.


“We would like to see the government taking some meaningful steps in the New Year to relieve us of uncompetitive tax burdens and encourage the sector to enhance and grow. We are hopeful that the budget for 2019 will accommodate our requests, in order to realize and strengthen the inherent potential of the industry.” 


THASL, which has a member base of over 250 hotels, said Sri Lanka is now steadily on the path to recovery, following a series of internal issues that rocked the industry.

 

http://www.dailymirror.lk/article/Hotels-Association-poised-to-make-major-economic-contribution-160509.html

52HOTEL AND TRAVEL SECTOR - Page 3 Empty Re: HOTEL AND TRAVEL SECTOR Wed Jan 02, 2019 7:51 am

easthetic


Equity Analytic
Equity Analytic
Higher taxes also leads businessmen to find ways to circumvent the tax payments as well.

53HOTEL AND TRAVEL SECTOR - Page 3 Empty Re: HOTEL AND TRAVEL SECTOR Tue Jan 08, 2019 8:14 pm

ruwan326


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Sri Lanka's Hunas Falls soars amid take-over offer

Jan 07, 2019 

Sri Lanka's Hunas Falls Hotels Plc, a hotel in Sri Lanka's knuckles mountain range has soared 19.3 percent amid a take-over offer.

Carbotels (Pvt) Ltd, and Amaya Leisure Plc has which own 66.2 percent of the firm has received a take-over-offer for their entire holding subject to due diligence, Hunas Falls said in a stock exchange filing.
No price was mentioned.

On Friday the stock gained 21.40 rupees to close at 131.80 rupees.

In the six months to September 2018, the hotel earned revenues of 68.7 million rupees up 4 percent from a year earlier and lost 1.3 million rupees. 

But a profit of 4.8 million rupees, down from 6.5 million rupees was posted for the quarter.
The hotel is located off Kandy.

https://economynext.com/Sri_Lanka_s_Hunas_Falls_soars_amid_take_over_offer-3-13063-7.html

54HOTEL AND TRAVEL SECTOR - Page 3 Empty Hotel Sector Thu Jan 17, 2019 9:51 am

ranferdi


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Hotel sector will have a good year 2019 as Lonely planet named sri lanka as best travel destination for year 2019. I can see some collection happening right now.

http://::::THIS EMAIL DOESNT WORK.. PLEASE CONTACT ME ON FB ACCO

55HOTEL AND TRAVEL SECTOR - Page 3 Empty HOTEL INDUSTRY Mon Apr 22, 2019 10:23 pm

Yahapalanaya


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Hotel idustry is going to affect due to current situation.Already Kingsbury and Cinnaman garden hotel damaged.Tourists are leaving and others cancel booking.Let's hope better outcome.

Now blood thirsty MARA gangs happy.

56HOTEL AND TRAVEL SECTOR - Page 3 Empty Re: HOTEL AND TRAVEL SECTOR Wed Apr 24, 2019 5:04 am

soileconomy

soileconomy
Vice President - Equity Analytics
Vice President - Equity Analytics
Not Hotel industry every industry is affected.
Whole country is in a utter mess

57HOTEL AND TRAVEL SECTOR - Page 3 Empty Re: HOTEL AND TRAVEL SECTOR Wed Apr 24, 2019 5:11 am

Yahapalanaya

Yahapalanaya
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@soileconomy wrote:Not Hotel industry every industry is affected.
Whole country is in a utter mess
You and your people are happy now!!!

58HOTEL AND TRAVEL SECTOR - Page 3 Empty Re: HOTEL AND TRAVEL SECTOR Wed Apr 24, 2019 5:44 am

soileconomy

soileconomy
Vice President - Equity Analytics
Vice President - Equity Analytics
@Yahapalanaya wrote:
@soileconomy wrote:Not Hotel industry every industry is affected.
Whole country is in a utter mess
You and your people are happy now!!!
I am not in your mentality.

59HOTEL AND TRAVEL SECTOR - Page 3 Empty Re: HOTEL AND TRAVEL SECTOR Thu Oct 24, 2019 12:05 pm

Rare

Rare
Equity Analytic
Equity Analytic
Taj & Serv caught my eye; bought below 11.50.

60HOTEL AND TRAVEL SECTOR - Page 3 Empty Re: HOTEL AND TRAVEL SECTOR Thu Oct 24, 2019 12:47 pm

Winner123


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Hotel sector warming up

61HOTEL AND TRAVEL SECTOR - Page 3 Empty Re: HOTEL AND TRAVEL SECTOR Thu Oct 24, 2019 1:16 pm

Rare

Rare
Equity Analytic
Equity Analytic
Yes dear winner.

62HOTEL AND TRAVEL SECTOR - Page 3 Empty Re: HOTEL AND TRAVEL SECTOR Thu Oct 24, 2019 5:46 pm

glad


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@Winner123 wrote:Hotel sector warming up
Any reason why? Any new tax incentives to hotel industry?

63HOTEL AND TRAVEL SECTOR - Page 3 Empty cargo boat Thu Oct 24, 2019 7:12 pm

abey


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
silent buying Laughing Laughing Laughing

64HOTEL AND TRAVEL SECTOR - Page 3 Empty Re: HOTEL AND TRAVEL SECTOR Thu Oct 24, 2019 7:23 pm

abey


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
royal parm beach hotel reach rs 20-22 short term (low selling presure)yoyr attension

65HOTEL AND TRAVEL SECTOR - Page 3 Empty Re: HOTEL AND TRAVEL SECTOR Fri Oct 25, 2019 9:37 am

God Father


Manager - Equity Analytics
Manager - Equity Analytics
Hotels and travel sector will take at least 4 financial quarters to recover pre April levels. By that time all hotels will be over valued.

66HOTEL AND TRAVEL SECTOR - Page 3 Empty Re: HOTEL AND TRAVEL SECTOR Fri Oct 25, 2019 10:07 am

Rare

Rare
Equity Analytic
Equity Analytic
@abey wrote:royal parm beach hotel reach rs 20-22 short term (low selling presure)yoyr attension
Book Value: 48

67HOTEL AND TRAVEL SECTOR - Page 3 Empty Re: HOTEL AND TRAVEL SECTOR Fri Oct 25, 2019 10:59 am

Arrowrisk

Arrowrisk
Manager - Equity Analytics
Manager - Equity Analytics
@abey wrote:silent buying Laughing Laughing Laughing
It may reach Rs.30 prior to election...

68HOTEL AND TRAVEL SECTOR - Page 3 Empty Tourist arrivals dip 9.5% in November Thu Dec 05, 2019 12:56 pm

Quibit


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics



  • Cumulative 11-month figure down 19.6% to 1.7 m
  • Analysts say SL unlikely to meet most recently revised 1.9 m arrival target for 2019
  • SLTDA releases limited data; International Relations and Research team on study tour


Cumulative 11-month figure down 19.6% to 1.7 m

Analysts say SL unlikely to meet most recently revised 1.9 m arrival target for 2019

SLTDA releases limited data; International Relations and Research team on study tour

 By Charumini de Silva

Tourist arrivals in November were down 9.5% and in the first 11 months by 19.6% from a year earlier, confirming a continuing downturn following the Easter Sunday terror attacks.

According to limited data released by the Sri Lanka Tourism Development Authority (SLTDA) yesterday, November arrivals were 176,984 as against 195,582 a year earlier.

The cumulative 11 months haul was almost 1.7 million compared to 2.08 million in the corresponding period of 2018.

Earlier the SLTDA revised the annual projection to 1.9 million from the previous forecast of 2.1 million under the previous regime, but considering the data analysts said that Sri Lanka t will not be able to even reach its most recently revised target for this year.

Tourist...

Interestingly this time, the SLTDA has released November data sans its usual comprehensive report with the breakdown of figures and markets on its website, as the team in-charge of compiling the monthly report has gone on a study tour to Australia, the Daily FT learns.

Following the Easter attacks, tourist arrivals slumped by 70.8% to a record low of 37,802 in May. The change in arrivals between 2018 and 2019 was 57% in June, 46.9% in July, 28.3 % in August, 27.2% in September, 22.5% in October and 9.5% in November.

Though chasing growth, officials took comfort from the fact that the pace of decline was waning. However, the industry has been critical over the delay in the launch of an aggressive public relations and marketing campaign in the aftermath of the Easter Sunday attacks.

In April, soon after the Easter Sunday attacks, tourism officials estimated a $ 1.5 billion revenue loss this year, while projecting a 30% drop in arrivals.

Sri Lanka originally planned for 2.5 million tourist arrivals, but post-Easter Sunday terror attacks, the SLTDA revised the target in August, stating that it hoped to get around 2 to 2.1 million tourists compared to the 2.3 million visitors recorded in 2018, representing a 10% decline in arrivals.



According to limited data released by the Sri Lanka Tourism Development Authority (SLTDA) yesterday, November arrivals were 176,984 as against 195,582 a year earlier.

The cumulative 11 months haul was almost 1.7 million compared to 2.08 million in the corresponding period of 2018.

Earlier the SLTDA revised the annual projection to 1.9 million from the previous forecast of 2.1 million under the previous regime, but considering the data analysts said that Sri Lanka t will not be able to even reach its most recently revised target for this year.

Tourist...

Interestingly this time, the SLTDA has released November data sans its usual comprehensive report with the breakdown of figures and markets on its website, as the team in-charge of compiling the monthly report has gone on a study tour to Australia, the Daily FT learns.

Following the Easter attacks, tourist arrivals slumped by 70.8% to a record low of 37,802 in May. The change in arrivals between 2018 and 2019 was 57% in June, 46.9% in July, 28.3 % in August, 27.2% in September, 22.5% in October and 9.5% in November.

Though chasing growth, officials took comfort from the fact that the pace of decline was waning. However, the industry has been critical over the delay in the launch of an aggressive public relations and marketing campaign in the aftermath of the Easter Sunday attacks.

In April, soon after the Easter Sunday attacks, tourism officials estimated a $ 1.5 billion revenue loss this year, while projecting a 30% drop in arrivals.

Sri Lanka originally planned for 2.5 million tourist arrivals, but post-Easter Sunday terror attacks, the SLTDA revised the target in August, stating that it hoped to get around 2 to 2.1 million tourists compared to the 2.3 million visitors recorded in 2018, representing a 10% decline in arrivals.

69HOTEL AND TRAVEL SECTOR - Page 3 Empty Re: HOTEL AND TRAVEL SECTOR Thu Dec 05, 2019 2:26 pm

ResearchMan

ResearchMan
Senior Equity Analytic
Senior Equity Analytic
9.5% in November(single digit & good recovery).

70HOTEL AND TRAVEL SECTOR - Page 3 Empty Re: HOTEL AND TRAVEL SECTOR Thu Dec 05, 2019 4:36 pm

Teller

Teller
Moderator
Moderator
Dont touch Anilana. The number one manipulators


_________________




Teller said is said..

71HOTEL AND TRAVEL SECTOR - Page 3 Empty Re: HOTEL AND TRAVEL SECTOR Sun Dec 29, 2019 6:40 pm

bhanu


Manager - Equity Analytics
Manager - Equity Analytics
Ahun.n0000 looking good.. they have better business currently comparing to other. They will make a profit in upcoming report

72HOTEL AND TRAVEL SECTOR - Page 3 Empty Re: HOTEL AND TRAVEL SECTOR Sun Dec 29, 2019 9:40 pm

Teller

Teller
Moderator
Moderator
Anila is no 1 manipulated share. People loss millions on Anilana IPO


_________________




Teller said is said..

73HOTEL AND TRAVEL SECTOR - Page 3 Empty Re: HOTEL AND TRAVEL SECTOR Mon Dec 30, 2019 1:39 am

fireshelter

fireshelter
Associate Director - Equity Analytics
Associate Director - Equity Analytics
Then Teller What you predict now as good at this point

74HOTEL AND TRAVEL SECTOR - Page 3 Empty Re: HOTEL AND TRAVEL SECTOR Sat Jan 04, 2020 6:08 am

ResearchMan

ResearchMan
Senior Equity Analytic
Senior Equity Analytic
Tourists Arrivals
December 2018:253,169
December 2019:241,663

75HOTEL AND TRAVEL SECTOR - Page 3 Empty Re: HOTEL AND TRAVEL SECTOR Sat Jan 04, 2020 9:37 am

Teller

Teller
Moderator
Moderator
There is a big difference 2019 vs 2018 ernings. As per 2019 revenue genarations based on ARR and occupancy , its look like star class hotels suffers a lot. Touching shares are in hotel related is a risk. Remember arrivals and occupancy ,2 different scenario. If want to know more contact me personally


_________________




Teller said is said..

76HOTEL AND TRAVEL SECTOR - Page 3 Empty Re: HOTEL AND TRAVEL SECTOR Mon Jan 06, 2020 2:48 pm

ThilinaM

ThilinaM
Vice President - Equity Analytics
Vice President - Equity Analytics
how to contact you personally

77HOTEL AND TRAVEL SECTOR - Page 3 Empty Re: HOTEL AND TRAVEL SECTOR Sat Mar 14, 2020 2:29 pm

bhanu


Manager - Equity Analytics
Manager - Equity Analytics
Huge loses are expected for this year. Most shares will hit all time low

78HOTEL AND TRAVEL SECTOR - Page 3 Empty Re: HOTEL AND TRAVEL SECTOR Sat Mar 14, 2020 2:43 pm

Junior investor

Junior investor
Manager - Equity Analytics
Manager - Equity Analytics
I bought keels hotels, ahungalla, jetwing yesterday and will buy more in future. can you believe that ahungalla at Rs 15?

79HOTEL AND TRAVEL SECTOR - Page 3 Empty Re: HOTEL AND TRAVEL SECTOR Sat Mar 14, 2020 3:20 pm

bhanu


Manager - Equity Analytics
Manager - Equity Analytics
Ahungalla is one of the best hotel plc but don't expect them to make any profits. They have a huge over head cost which can't be controlled. With or without gusts they have keep hotel running which is extremely costly

80HOTEL AND TRAVEL SECTOR - Page 3 Empty Re: HOTEL AND TRAVEL SECTOR Sat Mar 14, 2020 3:52 pm

Junior investor

Junior investor
Manager - Equity Analytics
Manager - Equity Analytics
yes ahungalla is not doing well at the moment, in fact their Eps is negative but I do long term. if they can't survive this temporary situation then nobody can.

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