Category: Tourism

Nov 21, 2011 (LBO) – Buses imported for tourism will be freed from value added tax and duties on vehicles imported for airport taxi services will be halved, President Mahinda Rajapaksa told parliament. Tourism is one of the most profitable sectors after a war ended in May 2009. Presenting the 2012 budget, Rajapaksa said airport […]

Nov 14, 2011 (LBO) – Galadari Hotels, a firm which owns and operates a five star hotel in Sri Lanka’s capital Colombo lost 45 million rupees in the September 2011 quarter, from a profit of 78 million a year earlier, interim accounts showed. The firm reported losses of 25 cents a share for the quarter. […]

Nov 09, 2011 (LBO) – The global travel and tourism industry has identified Sri Lanka as part of a group of emerging countries with potential as attractive holiday destinations behind the so-called BRICS nations. The World Travel Market 2011 Industry Report said the island was ‘re-emerging’ after the 30-year ethnic war and noted it for […]

Nov 09, 2011 (LBO) – Global hotel chain Sheraton is looking to acquire a plot of prime property in the Sri Lankan capital whose sale without tender to a Chinese defence contractor was cancelled by government last month. “The government valuer is now valuing the land.” CATIC had been offered and had looked at different […]

Nov 01, 2011 (LBO) – Hotel Developers (Lanka), owners of Hilton Colombo Hotel in the Sri Lankan capital, has paid about 33 percent of gross operating profit as management fees and other charges to the international hotel chain which runs the property. The total amount paid to Hilton Worldwide, formerly Hilton International USA, was 1,371 […]

Oct 31, 2011 (LBO) – Lower profit from share trading owing to a fall in the Sri Lankan stock market has halved Renuka City Hotels’ September 2011 quarter profit, a stock exchange filing showed. Net profit fell 58 percent to 52 million rupees in the September 2011 quarter from a year ago although sales more […]

Oct 31, 2011 (LBO) – An investment fund connected to the Dubai government has bought a 16.1 percent stake in Sri Lanka’s Galadari Hotel, in a deal valued at 1. 18 billion rupees. The broking firm TKS Securities said 29.5 million shares were bought at 40 rupees each. Sri Lanka’s tourist arrivals have been up […]

Oct 31, 2011 (LBO) – Sri Lankans should avoid all but ‘extremely essential’ travel to Thailand’s capital Bangkok as floods worsened, the island’s foreign ministry said. “[U]unless it is extremely essential, Sri Lankans are advised to temporarily postpone their travel to Bangkok until such time the situation improves,” a foreign ministry statement said. Parts of […]

Oct 27, 2011 (LBO) – Sri Lanka’s Hotel Developers, is negotiating with Hilton International USA which runs the property to reduce management fees, a stock exchange filing said. The management is also in talks on with the government to restructure the firm and “overcome the debt burden and interest commitment,” it said. It said the […]

Oct 26, 2011 (LBO) – Maldives has launched a new slogan ‘Always Natural’ and a thumbprint-styled logo highlighting the Indian Ocean tourist paradise’s natural assets. The logo has been designed to express the natural elements of the country formed in a thumb print incorporating various species of fish, dolphins and birds. “The previous slogan was […]

Oct 25, 2011 (LBO) – Sri Lanka is holding talks with top international hotel chains to invest in the island after the end of its 30-year year civil war, a senior minister said. Tourist arrivals to Sri Lanka rose sharply with the end of the ethnic war in May 2009. Minister of economic development Basil […]

Oct 25, 2011 (LBO) – Sri Lanka has cancelled the sale without tender of prime land in the capital to a Chinese defence contractor to build a hotel and is renegotiating the deal with alternate land being offered. Minister of economic development Basil Rajapaksa said the government had changed its policy and decided not to […]