Category: Tourism
Sri Lanka increases overflying charges after 38 years, revenue to go up by 57-pct
Nov 14, 2019 (LBO) – Sri Lanka’s government has decided to increase overflying charges after 38 years, taking into account the ICAO (International Civil Aviation Organization) policies for the determination of air navigation charges. In exchange for providing navigation aids to aircraft overflying their territories and landing at their airports, countries impose overflying navigation fees. […]
Hayleys Group delivers improved performance in 2Q 2019/20
Nov 14, 2019 (LBO) – Sri Lanka’s diversified conglomerate, the Hayleys Group, posted improvements in turnover, operating performance and overall profitability during the 2nd quarter of 2019/20 supported by the strong performance of its export businesses. Meanwhile, the Group also recorded an improvement in turnover and operating profit for the 1H of 2019/20, although overall […]
Shangri-La Group completes One Galle Face, Group’s largest venture in South Asia
Nov 14, 2019 (LBO) – Seven years after it broke ground, the much-anticipated One Galle Face (OGF) integrated project was officially opened recently by President Maithripala Sirisena and by Shangri-La Group CEO, Lim Beng Chee. The opening ceremony was attended by local dignitaries and industry leaders. The event also marks the first time OGF officially […]
Speedily adopt modern technologies in all aspects of travel and tourism industry: IPS
The fourth industrial revolution (4IR) is changing today’s world. Globally, 64 per cent of all migrant travellers has migrated for employment. However, traditional models of employment are increasingly replaced by new developments associated with 4IR technologies. This height of technological advancements in some aspects are creating inadvertent challenges. 4IR for Travel A major development in […]
Taj Lanka Hotels (TAJ) revenue up 12% as Sri Lanka tourism recovers
November 11, 2019 (LBO) – Colombo Stock Exchange (CSE) listed Taj Lanka Hotels (TAJ) reported surprisingly robust revenue growth for the quarter ended September 2019. Revenue was up 12% year over year for the second quarter to Rs704mn. TAJ, the owner of the five star Taj Samudra Hotel in Colombo, reported a small loss for […]
Sri Lanka tourist arrivals down 22-pct in October
Nov 07, 2019 (LBO) – The total number of international tourist arrivals to Sri Lanka during October was 118,743 and in comparison to October last year, there is a decline of 22.5 percent when the arrivals were 153,123. This month, the largest source market for tourists was India, followed by China and the United Kingdom. […]
Kingsbury Hotel to redesign spaces with unique dining experiences under BOI deal
Nov 05, 2019 (LBO) – Sri Lanka’s Board of Investment has signed a supplementary agreement with the Kingsbury PLC to expand and refurbish the hotel located at Colombo 1. The Agreement was signed by Mangala Yapa, Chairman of the BOI and Rohan Karr, Managing Director, Hayleys Leisure Sector on behalf of the Company. The Easter […]
JKH Sept quarter net profit down 55-pct amid Easter Sunday impacts
Nov 01, 2019 (LBO) – Sri Lanka’s diversified John Keells Holdings said its profits for the second quarter were mainly impacted by the Easter Sunday impacts on the leisure businesses and the decline in finance income. The profit attributable to equity holders in the second quarter at Rs.2.29 billion is a decrease of 55 percent […]
Sri Lanka to operate luxury train coaches to Badulla, North, East & South routes
Oct 31, 2019 (LBO) – Sri Lanka is to operate luxury train coaches to Badulla, Northern, Eastern, and Southern routes considering the demand for such luxury services for tourism. Accordingly, the Cabinet of Ministers has approved a proposal to call competitive bids for the selection of contractors for this operation for five years. online pharmacy […]
Asian Hotels (AHPL) reports a profit, tourism recovery taking hold
October 29, 2019 (LBO) – Colombo Stock Exchange listed Asian Hotels and Properties (AHPL) reported a modest profit in the quarter ended September 30th. AHPL is the subsidiary of market bellwether John Keells Holdings (JKH) which owns two large city hotels. Profits in the quarter were down 95% year over year to just Rs10mn, however […]
John Keells Hotels (KHL) reports losses of Rs470mn on 27% drop in revenue
October 25, 2019 (LBO) – Colombo Stock Exchange (CSE) listed John Keells Hotels PLC (KHL), the subsidiary of John Keells Holdings (JKH) which owns resort hotels in Sri Lanka and the Maldives, reported sharp losses for the quarter ended September 30, 2019. KHL lost Rs470mn (US$2.6mn) in the three month period with revenues down 27% […]
Sanken Construction to build 112-room hotel at Union Place under BOI deal
Oct 24, 2019 (LBO) – Sri Lanka’s Board of Investment signed an agreement with Sanken Construction (Pvt) Ltd to construct and operate a 112 room hotel with an investment of 9.28 million US dollars, which will create 60 new employment opportunities. The agreement was signed by Mangala Yapa, Chairman of the Board of Investment of […]