News Source: www.sundaytimes.lk
Jetwing Symphony hotels eyes long-term growth in shattered industry
News Source/Courtesy: www.sundaytimes.lk

Courtesy/News Source: sundaytimes.lk

Jetwing Symphony PLC, a hotel group, says it is focusing on the long-term future of the company in an industry that was shattered by the Easter Sunday bombings in April.

“Focusing on the short-term now seems futile, and it is certainly more fruitful to look at the long-term future of your company and the country at large,” said its chairman Hiran Cooray in the company’s 6-month results ending September 30, 2019 released recently.

According to the results, while revenue fell to Rs. 675 million in the period under review from Rs.819 million in the same 2018 period, the total loss of the company rose to Rs.297 million from Rs.239 million in the 2018 period.

“Yes, we have taken a major financial toll in the short term, and I am doubtful that we will come back to our regular flow of business in the current financial year. Many companies have reduced rates considering the impending drop in tourist arrivals, and this has resulted in a price war between hotels and travel agencies to win whatever business is at hand,” noted Mr. Cooray. 

On a philosophical note, he said that a few months on from an incident that not only shook our industry and economy, but also the Sri Lankan people and spirit, “I have pondered on what is most required for the country from a long-term, sustainable approach”.

At its core, he said, Sri Lanka is a country of people with diverse religious and cultural backgrounds. In the last few decades, it has witnessed destruction, death, hostility, tension, and racism of immense proportions. “I envision a country where each citizen, regardless of their race or religion, could live together in peace and harmony. Among its other benefits, peace is the single most important catalyst for economic growth – with tourism being one of the major beneficiaries. For 10 years, our industry flourished, mainly due to the peace and stability established in the country. If we are to continue to build a peaceful nation, we need to start eliminating the root causes of death and destruction – hate, anger, malice, and so on; and instead, spread love, compassion and empathy among all people. At Jetwing, we are taking on the challenge to educate and nurture communities, especially children, on the importance of living together in harmony,” he added.

The company also said progress at Jetwing Kandy Gallery is on schedule, and the hotel is expecting its first guests on January 14, 2020. “We decided to continue the project despite the prevailing situation, focusing on the long-term prospects of the company. I am confident it will be one of the most unique and sought-after properties in the hill capital, and we are taking on the challenge of introducing new levels of product and service delivery, which will distinguish your hotel from its competitors,” he said.

Fill the numbers here
If not readable, please refresh.
Refresh

News Source: www.sundaytimes.lk

You Might Also Like

Fill the numbers here
If not readable, please refresh.
Refresh

-: Disclaimer :-


This article has been aggregated from www.sundaytimes.lk and they maybe/are the copyright owners of the same. If you are the Author/Copyright owner of this article and want us to remove the same then send an email to admin@hoteliers.news so that we can delete it immediately. We sincerely regret and apologies for any inconvenience caused to you due to the same. Though it is your decision but please take note that the link to your website and the article have been given above, within and on the bottom of the article.

Hoteliers In Limelight

Voting Poll