John Keells Hotels (JKH) has revealed record profits from Maldives and Sri Lanka last year.
JKH Chairman Susantha Ratnayake stated that occupancy in Sri Lanka and Maldives resorts were 80 percent and 89 percent respectively.
The extremely high occupancy rate enabled the group to post a profit after tax up to Rs. 1.86 billion from Rs. 1.75 billion a year earlier.
The owning company said in its recently released annual report that its properties are sited in "several magnificent locations" in Sri Lanka and the Maldives.
Ratnayake noted that tourism was growing both in Sri Lanka and in the Maldives with the former posting a 14% growth in arrivals during the year while they were up four percent in the Maldives. Most of the traffic to Sri Lanka came from Western Europe while India and China continued to be the two largest source markets.
The Maldives saw a 10% drop in Chinese arrivals despite that market remaining the largest traffic generator accounting for 25% of total arrivals. But the drop in Chinese arrivals was partly mitigated by stronger demand from South and South East Asia.
Ratnayake expected that the growth of the informal accommodation segment both here and in the Maldives to continue together with the increase in star category rooms.
"In order to combat pressure from competition, your company will continue to focus on enhancing online bookings with Online Travel Agents and its own website coupled with a focus on digital marketing initiatives," he said.
"Additionally, Sri Lanka resorts will focus on sales strategies targeting selected cities in India through our representatives in India to drive the MICE (meetings, incentives, conferences and events) market, particularly events and weddings."
John Keells Holdings PLC, established in the early 1870s, is Sri Lanka’s largest listed conglomerate in the Colombo Stock Exchange. From managing hotels and resorts in the Maldives to life insurance, the company is virtually present in every major sphere of the economy.
