Ceylon FT: The Serendib Group, a part of Hemas Holdings, reported record occupancies of over 80% at all hotels in the third quarter except Hotel Sigiriya, which was in line with the forecast of 71%. Despite this, the group showed losses of Rs 16 million for the nine months to 31 December 2013, down 110% from the previous corresponding period which had showed a Group profit of Rs 158 million.
Within the Group, the company's loss in the 9 months was 6.4 million, down 111% comparatively.
Group revenue for the period fell to Rs 710 million a drop of 25% over the corresponding 9 months.
The Group recorded a revenue of Rs 371.7 million for the last three reported months, which was virtually unchanged from the corresponding period in 2012/13, despite the partial closure of Club Hotel Dolphin.
The Group attributes the losses to refurbishment during the year, Hotel Sigiriya and Club Hotel Dolphin were closed for 3 and 6 months respectively, adversely affecting results.
The company also reports that Avani Bentota also performed below expectations in the first quarter of the current financial year.
Avanti Kalutara however received an award 'Top Hotel 2014' by the travel site, Holiday Check.
A 'satisfactory' 4th quarter is anticipated by the Managing Director Ranil De Silva. The Serendib Leisure Hotels Group comprises Serendib Hotels PLC and its subsidiaries Dolphin Hotels PLC, Sigiriya Hotels PLC and Serendib Leisure Management Ltd.
The Group currently manages Avani Bentota Resort & Spa, Avani Kalutara Resort, Club Hotel Dolphin and Hotel Sigiriya totalling 410 rooms. The share price fluctuated between a high of Rs 30 and low of Rs 24 during the nine months.
www.ceylontoday.lk
No comments:
Post a Comment