Colombo City Hoteliers Association President M. Shanthikumar said that the minimum rate for city hotels should be further maintained.
"It has sent positive signals to potential investors such as international hotel chains looking at opportunities to open hotels in Colombo. When they know there is a minimum guaranteed price they like to invest. Its like having a minimum buy back price for a product."
He said it's this rate that is seeing the investments of top international players like Shangri La and Hyatt, MovenPick coming to Sri Lanka and the city."
City hoteliers are backing minimum room rate policy insisting that it has been highly beneficial and abandoning it will spell doom for the leisure industry. The average occupancy in Colombo across all categories of hotels for 2015 is overall 70% and this brought us good returns too. The present pricing in the Colombo City hotels is considered very reasonable by all hoteliers."
He said in contrast the Jones Lang LaSalle (JLL) report released recently gave other ideas."We don't agree with this report which says to re look at the minimum room rate."
www.dailynews.lk
"It has sent positive signals to potential investors such as international hotel chains looking at opportunities to open hotels in Colombo. When they know there is a minimum guaranteed price they like to invest. Its like having a minimum buy back price for a product."
He said it's this rate that is seeing the investments of top international players like Shangri La and Hyatt, MovenPick coming to Sri Lanka and the city."
City hoteliers are backing minimum room rate policy insisting that it has been highly beneficial and abandoning it will spell doom for the leisure industry. The average occupancy in Colombo across all categories of hotels for 2015 is overall 70% and this brought us good returns too. The present pricing in the Colombo City hotels is considered very reasonable by all hoteliers."
He said in contrast the Jones Lang LaSalle (JLL) report released recently gave other ideas."We don't agree with this report which says to re look at the minimum room rate."
www.dailynews.lk
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