Keells Hotels shows income growth in Q4
View(s):John Keells Hotels (KHL) saw its income grow by 4.8 per cent year on year to Rs. 3.79 billion in Q4 FY 17, despite the company’s local sector being affected by the partial closure of the main airport, analysts say.
KHL’s 4Q17 saw the closure of Ceylon Holiday Resorts Ltd (Bentota Beach by Cinnamon) from July 2017 where a 151-room new hotel is to be constructed over a period of three years.
During the said period, capital commitments contracted but not incurred in relation to the Nuwara Eliya Hotel project which as at 31 March 2017 amounts to Rs. 56.6 million. Capital commitments approved but not contracted for the Bentota Beach Hotel project, Nuwara Eliya Hotel project and the Kukahuraa Hotel project in Maldives as at 31 March 2017 amounts to Rs. 4 billion, Rs. 3.718 billion and US$ 13.5 million respectively, according to the results.
In this period, Maldives was recovering gradually, while KHL will be going through improvements in its room inventory via a partial refurbishment in Ellaidhoo and Dhonveli, in an effort to enhance the quality of the service offerings.