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

Click Link to get instant AI answers to all business queries.
Click Link to find latest Economic Outlook of Sri Lanka
Click Link to view latest Research and Analysis of the key Sectors and Industries of Sri Lanka
Worried about Paying Taxes? Click Link to find answers to all your Tax related matters
Do you have a legal issues? Find instant answers to all Sri Lanka Legal queries. Click Link
Latest images

Latest topics

» Maharaja Foods PLC (MFL) - IPO Analysis
by ChooBoy Mon Jul 22, 2024 12:27 am

» කොළඹ කොටස් වෙළඳපොල විශ්ලේෂණය - 2024
by ChooBoy Fri Jul 19, 2024 11:53 am

» Winds of Change: Sri Lanka's Banking Crisis is Stalling Renewable Energy Ambitions of Local Stalwarts of Wind & Solar Power
by God Father Wed Jul 17, 2024 10:11 pm

» Banking Sector Analysis
by God Father Sat Jul 13, 2024 7:57 am

» Impact of Elections on Colombo Stock Market Sentiment
by Quibit Tue Jul 09, 2024 9:01 am

» LankaBIZ Unveils AI-Driven On-Demand Financial Research and Analysis Service
by Quibit Thu Jul 04, 2024 12:49 pm

» CDB Non voting
by Nandun Sun Jun 30, 2024 9:45 pm

» The Parsi Power Play: How a Small Community of Iranian Parsis are Controling Sri Lanka's US $ 85 billion Economy & 22 Million Population & Politics driving away FDIs
by MalakaDesmond Sun Jun 30, 2024 10:19 am

» Richard Pieris Group: Mismanaged?
by Walbaba Sat Jun 29, 2024 7:04 pm

» සොෆ්ට්ලොජික් හෝල්ඩිංග්ස් පීඑල්සී: අඳුරු අපේක්ෂාවන් සහිත ඉහළ අවදානම් ආයෝජනයක්
by D.G.Dayaratne Tue Jun 25, 2024 5:45 am

» සොෆ්ට්ලොජික් ප්‍රාග්ධනයට වන්දි ගෙවන Share BuyBack නිසා Softlogic ජීවිත රක්‍ෂණය බංකොලොත් වීමේ අවදානමක
by MalakaDesmond Tue Jun 25, 2024 1:49 am

» Softlogic Life insurance face Danger of Bankruptcy due to Share BuyBack that compensate Softlogic Capital
by MalakaDesmond Tue Jun 25, 2024 1:33 am

» Softlogic Holdings PLC: A High-Risk Investment with Bleak Prospects
by MalakaDesmond Tue Jun 25, 2024 12:52 am

» FINANCE AND LEASING SECTOR
by SL-INVESTOR Sat Jun 22, 2024 12:48 am

» HSENID BUSINESS SOLUTIONS PLC (HBS.N0000)
by ErangaDS Wed Jun 19, 2024 9:21 pm

» How will proposed Tax Reforms affect Sri Lankans in 2025
by Quibit Wed Jun 19, 2024 9:27 am

» Falsified accounts and financial misrepresentation at Arpico Insurance PLC (AINS)
by ChooBoy Tue Jun 18, 2024 11:31 pm

» Impact of IMF reforms to Sri Lanka Economy
by D.G.Dayaratne Mon Jun 17, 2024 6:36 pm

» Richard Pieris Finance Ltd continue to endanger the Depositors with negative performance
by ddindika Mon Jun 17, 2024 3:17 pm

» Richard Pieris Exports reports 97% decline in Net Profits
by Biggy Sat Jun 15, 2024 11:26 am

» Do your own Stock Market Research using AI Tools
by Quibit Fri Jun 14, 2024 10:50 am

» What will happen tomorrow?
by cheetah Thu Jun 13, 2024 12:07 pm

» Focus on Government controlled entities
by ErangaDS Mon Jun 10, 2024 4:15 pm

LISTED COMPANIES

Submit Post
ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post


CONATCT US


Send your suggestions and comments

* - required fields

Read FINANCIAL CHRONICLE™ Disclaimer



EXPERT CHRONICLE™

ECONOMIC CHRONICLE

GROSS DOMESTIC PRODUCT (GDP)



CHRONICLE™ YouTube


You are not connected. Please login or register

John Keells Hotels expects pent-up demand for travel and tourism once travel restrictions removed

Go down  Message [Page 1 of 1]

samaritan

avatar
Moderator
Moderator

John Keells Hotels expects pent-up demand for travel and tourism once travel restrictions removed Red

John Keells Hotels PLC (KHL) saw the revenue momentum losing in both its Maldivian and Sri Lankan resort sectors during the June quarter (2Q22), reflecting the impact of COVID-19 third wave and the resulting restrictions on travel and leisure activities. 

The group expects pent-up demand for travel and tourism once travel restrictions are removed.

KHL operates a portfolio of 12 luxury resorts in Sri Lanka and Maldives under the ‘Cinnamon Hotels and Resorts’ brand.

The group reported revenues of Rs.1.54 billion for the quarter under review compared to Rs.47.4 million in the year earlier period as all travel and leisure activities came to a grinding halt for a prolonged period in the corresponding quarter in 2020. 

However, the June 2021 top line marked a sizeable decline from the revenues it generated in the previous quarter ended in March 2021, which was recorded at Rs.2.02 billion, when the Maldivian tourism sector was fast recovering while the Sri Lankan resorts were increasingly patronised by domestic travellers who began taking trips after almost a year of sheltering-in-place.

Re-opening of borders for international air travel little helped during the first half of 2021, as the arrival of foreign visitors was slower than expected. 

Maldivian resorts sector witnessed some level of moderation in terms of visitors with the fresh outbreak of the virus in India, as India is a one of the key tourism source markets for Maldives.

Resorts in Maldives operate whilst adhering to the regulations issued by the authorities,” KHL said in a note to its interim financial statements.  As a result, the revenues form the Sri Lankan resort sector declined to Rs.241.4 million in the June 2021 quarter compared to Rs.322.2 million in the March quarter in 2021, while the revenues in the Maldivian resorts fell to Rs.1.29 billion from Rs.1.70 billion in the March quarter. 

However, the group expects pent-up demand for travel and tourism once travel restrictions are removed.Meanwhile, the refurbishing of Hikka Tranz by Cinnamon and the construction of Cinnamon Red Kandy are expected to recommence during 2Q22 and 2H23 respectively, while the group expects to make the most of its Cinnamon Bentota Beach after its re-opening as the border closures prevented realising its full potential at the time. 


https://island.lk/john-keells-hotels-expects-pent-up-demand-for-travel-and-tourism-once-travel-restrictions-removed/

Share this post on: reddit

Chinese , Russians, Indians and many other tourist in the developing nations will be banned to enter Europe and USA. They will only allow tourist who has taken Pfizer , Moderna. This rule could be enforced for 2 or 3 years.
Sri Lanka must prepare for attract these tourist to visit Sri Lanka.

Back to top  Message [Page 1 of 1]

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