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| Sunday, 16 June 2002 |
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Business |  |
| News Business Features Editorial
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Lighthouse to construct spa, second pool The Lighthouse Hotel plans to complete the construction of a spa and a second swimming-pool before the end of the year. "Even though the construction of a spa was finalised some time ago, all development work had to be put on hold temporarily after the July 24 incident at the Bandaranaike International Airport. However, now we have decided that the time is opportune for the construction of this spa and swimming-pool, based on an overall plan of adding a further 25-35 rooms at a later stage," Chairman Lighthouse Hotel Ltd. N.G.H. Cooray said in the company's annual report for 2001/02. Lighthouse Hotels Ltd. owns and operates the hotel in Galle which is targeted at the upmarket leisure traveller. Jetwing Hotels Ltd. is the managing agent for the hotel. Although there was a slump in tourism due to the airport incident and September 11, the company's turnover had decreased by only 14 per cent, to Rs. 111 million in the year ending March 31, 2002 from Rs. 128.8 million during the corresponding period of the previous year. Profit before tax went down to Rs. 24.8 million from Rs. 33.6 million in the previous year. Occupancy decreased to 53 per cent from 70 per cent. Despite this situation, the Board has recommended a first and final dividend of five per cent for the year. "The hotel is well positioned now as a premium luxury hotel in Sri Lanka and overseas. However, on a continuous basis, value addition in service is being made with the objective of finding new niche markets so as to improve the yield. Sri Lankans too continue to patronise the hotel. Special marketing and promotions are currently under way to celebrate the hotel's fifth anniversary this month. "With the current ceasefire, hopes of permanent peace in Sri Lanka in the near future and with enhanced marketing at all levels to reposition the image of the country, a major revival in tourism is anticipated. This will boost the hotel's future performance," Cooray said in the annual report. |
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| Editorial | Security Produced by Lake House |
