Business
John Keells Hotels expects pent-up demand for travel and tourism once travel restrictions removed
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.
The Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) proudly facilitated the first-ever Sri Lankan delegation’s participation at Drupa 2024, the world’s largest trade fair for the printing industry and technology. Held after an eight-year hiatus, Drupa 2024 was a landmark event, marking significant advancements and opportunities in the global printing industry.
AHK Sri Lanka played a pivotal role in organising and supporting the delegation, which comprised 17 members from the Sri Lanka Association for Printers (SLAP), representing eight companies from the commercial, newspaper, stationery printing, and packaging industries. This pioneering effort by AHK Sri Lanka not only showcased the diverse capabilities of Sri Lanka’s printing sector but also facilitated vital bilateral discussions with key stakeholders from the German printing industry.
Business
Unveiling Ayugiri: Browns Hotels & Resorts sets the stage for a new era in luxury Ayurveda Wellness
In a captivating reimagining of luxury wellness tourism, Browns Hotels & Resorts proudly unveiled the exquisite Ayugiri Ayurveda Wellness Resort Sigiriya. This momentous occasion, celebrated amidst a vibrant and serene grand opening on the 6th of June, heralds a new chapter in the Ayurveda wellness tourism landscape in Sri Lanka. Nestled amidst 54 acres of unspoiled natural splendour, Ayugiri features 22 exclusive suites and stands out as the only luxury Ayurveda wellness resort in the country offering plunge pools in every room, rendering it truly one-of-a-kind.
The grand opening of Ayugiri Ayurveda Wellness Resort was an enchanting event, where guests were captivated by the melodies of flutists and violinists resonating through Sigiriya’s lush landscapes. As traditional drummers and dancers infused the air with vibrant energy, Browns Hotels & Resorts’ CEO, Eksath Wijeratne, Kotaro Katsuki, Acting Ambassador for the Embassy of Japan and General Manager, Buwaneka Bandara, unveiled the resort’s new logo, marking a significant moment witnessed by distinguished guests from the French Embassy, Ayurveda and wellness enthusiasts along with officials from the Sigiriya area, LOLC Holdings and Browns Group.
“Our strategic expansion into wellness tourism with Ayugiri Ayurveda Wellness Resort Sigiriya symbolises a significant milestone for Browns Hotels & Resorts. Wellness tourism has consistently outperformed the overall tourism industry for over a decade, reflecting a growing global interest in travel that goes beyond leisure to offer rejuvenation and holistic well-being. By integrating the timeless wisdom of Ayurveda with modern luxury, we aim to set a new standard in luxury wellness tourism in Sri Lanka. Whether your goal is prevention, healing, or a deeper connection to inner harmony, Ayugiri offers a sanctuary for holistic well-being” stated Eksath Wijeratne.
Ayugiri encapsulates the essence of life, inspired by the lotus flower held by the graceful queens of the infamous Sigiriya frescoes. Just as the lotus emerges from the murky depths, untainted and serene,
Ayugiri invites guests on a journey of purity and rejuvenation, harmonised with a balance of mind, body and spirit, the essence of nature, echoes of culture and the wisdom of ancient Ayurvedic healing.
HNB General Insurance, one of Sri Lanka’s leading general insurance providers, has been honored as the Best General Bancassurance Provider in Sri Lanka 2024 by the prestigious Global Banking and Finance Review – UK.
The esteemed accolade underscores HNB General Insurance’s unwavering commitment to excellence and its outstanding performance in the field of bancassurance. Through dedication and hard work, the HNB General Insurance team has continuously endeavored to deliver innovative insurance solutions, cultivate strong relationships with banking partners, and provide unparalleled service to customers nationwide. This recognition is a testament to the team’s dedication and relentless pursuit of excellence in the bancassurance business.
“We are honored to receive this prestigious award, which reflects our team’s tireless efforts and dedication to delivering value-added insurance solutions and exceptional service through our bancassurance partnerships,” said Sithumina Jayasundara, CEO of HNB General Insurance. “This recognition reaffirms our position as a trusted insurance provider in Sri Lanka and motivates us to continue striving for excellence in serving our customers and communities.”
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