Hunas Falls Hotels, part of the Jetwing group of the Hayleys conglomerate, said its net loss for the quarter more than doubled to 3.7 million rupees from a year ago while sales rose four percent to 16.5 million rupees.

The hotel, in the island's central hills, said the loss for the nine month period ending December 31, 2008 shot up 96 percent to 8.8 million rupees while sales rose seven percent to 52 million rupees.

Hotel Sigiriya, owned by Serendib Leisure Management, part of Hemas Holdings, said it managed to reduce its net loss for the December quarter by 30 percent to 4.4 million rupees from a year ago while sales rose 25 percent to 19.3 million rupees.

The hotel, in the island's north-central region, said that in the nine months ending December 31, 2008, the net loss was up eight percent to 15 million rupees although sales rose 27 percent to 55 million rupees.

Both hotels managed to improve gross profits but the bottom line was eroded by higher administration, and especially finance, costs.

The island's hotel industry has been suffering for years because tourists have been scared away by the war

But a recovery has been forecast this year, notwithstanding the slowdown in global travel, because the long-running ethnic war is winding down with the army on the verge of crushing Tamil Tiger rebels.

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