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| Sunday, 22 June 2003 |
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| News Business Features Editorial
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Confifi Group records high net profits The Confifi Group of Hotels recorded the highest ever revenue and respectable profits through its focus on operational efficiency, staff productivity, service standards and the development of employees who contribute more effectively to the operations during the financial year 2002/2003. A company spokesman attributed the turnaround in fortune, despite a difficult year, to the strengthening of tourist arrivals in the wake of the peace process. it owns and manages four properties in Beruwela - Eden Resort and Spa, Riverina Hotel, Club Palm Garden and Confifi Beach Hotel. The Eden Resort and Spa recorded a 65 per cent increase in net revenue from Rs. 157 million in the previous year to Rs. 260 million with a reversal in profitability of 235 per cent, recording a net profit of Rs. 44.5 million for the financial year under review. A five-star hotel established in 1994, it was a pioneer in developing a spa of international standards. Eden is considered one of the most eco-friendly latest generation hotels and has 158 rooms, 24 deluxe rooms and six specialised suites, butler services and an executive lounge. Riverina Hotel, one of the largest resort hotels in Sri Lanka with 192 rooms, three suites and 10 family rooms, is equipped with modern facilities such as an ayurveda villa, kids mini club, gymnasium, cyber dens, water sports facilities and an equestrian riding school. It recorded a turnaround in both turnover and net profitability. The turnover rose from Rs. 157.8 million in the previous year to Rs. 234 million, increasing 595 per cent from the previous year to a net profit of Rs. 60.9 million. The Riverina Ayurveda Villa is popular in the German, Swiss and Austrian markets. Club Palm Garden, a resort hotel of 142 rooms providing many water sports and outdoor activities such as archery and animation, recorded an increase of 56 per cent in net revenue from Rs. 76 million in the previous year to Rs. 119 million, with a net profit of Rs. 49 million. |
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