Business
Hiran Cooray calls for practical operating model for ‘Wonders of Lanka’ durng the tourism lull
One of the country’s top leisure industry personalities, Mr. Hiran Cooray, head of the Jetwing Group, has appealed to all concerned to utilize the time available before tourism returns to normalcy to pay attention to improving country’s hundreds of of natural and man-made wonders that have over the years not received the love and care they deserve.
‘The relevant authorities must utilize this time to prepare a practical model of of operating these sites once tourist arrivals return to expected numbers,” he has said in the annual report of Jetwing Lighthouse PLC, owners of the Geoffrey Bawa-built Lighthouse Hotel on a spectacular site near Galle.
“If these are not looked into, there will continue to be negative publicity and permanent damage to natural assets like Yala National Park and man-made cultural sites like Sigiriya,” he has said.
“As tourism will likely take a while to return to normalcy, there is an opportunity for us to strategically plan on how we will grow responsibly and sustainably,” Cooray said.
He has made the point that tourism has always had its ups and downs from the time his father, the late Herbert Cooray, entered the industry in 1973. But since the war ended in 2009, the industry had enjoyed continuous growth which had led to their own expansion including investments made by Lighthouse in the recent past.
Reviewing the year ended Mar. 31, 2009, Cooray said that having survived a difficult year, “we are now faced with an even more challenging year, the like of which had not been seen during Jetwing’s history.
They had begun the year with a lot of optimism and hoped to obtain better results following the upgrades made to the property during the year. But these were belied by the Easter bomb which exploded three weeks into the financial year. As they gradually got on to their feet after some months of hardship, and was heading for a quick recovery when the whole world was shaken by the Covid pandemic.
The company ended the year under review with a loss of Rs. 96.3 million, down from the previous year’s profit of Rs. 102.6 million. They are holding back on planned renovations on which they had invested about Rs. 200 million last year.
A new swimming pool overlooking the Indian Ocean for which all approval had been received was part of the plan that was expected to help position Lighthouse as the premier hotel on the South coast.
The directors’ report indicated changes in directors’ shareholdings with Mrs. AMJ Cooray gifting her holding of over 1.2 million shares equally to her son, Hiran Cooray and daughter, Shiromal Cooray who run Jetwing.
Lighthouse has a stated capital of Rs. 460 million and reserves of Rs. 2.4 billion together with retained earnings of Rs. 332.1 million in its books. Total assets ran at Rs. 3.84 billion and total liabilities at Rs. 644.2 million.
Jetwing Hotel Management Services with 41.24% of Lighthouse is the major shareholder, followed by Mercantile Investments (16.82%), EPF (11.05%) and the Bank of Ceylon (9.73%). Ms. Shiromal Cooray and Mr. Hiran Cooray are the biggest individual shareholders.
The directors of the company are: Messrs. Hiran Cooray (Chairman) RAE Samarasinghe (MD), Ms. Shiromal Cooray, N. Wadugodapitiya, CSR Anotony, Ranil de Silva, EPA Cooray, Ms. AM Ondaatjie, Dr. C. Pathiraja, T. Nadesan and ATP Edirisinghe.
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.”
US sports envoys to Lanka to champion youth development
Rahuman questions sudden cancellation of leave of CEB employees
