Thursday September 20, 2018

Sri Lanka Marriot property owners target 70-pct occupancy

Oct 20, 2017 07:24 AM GMT+0530 | 0 Comment(s)

ECONOMYNEXT - Sri Lanka's Weligama Bay Marriot Hotel and Spa which has opened this year is targeting 70 percent annual occupancy, the parent owning company of the property has said.

Marriot is managing the seaside resort built by Weligama Hotel Properties Limited, a 71 percent owned unit of publicly traded East West Properties Plc.

Chairman Nahil Wijesuriya said the focus will be in maintaining 70 percent occupancy at the hotel which started commercial operations in July 2017.

The hotel is managed by Marriot International Luxury Hotel Management (BVI) Ltd. On the Marriot booking engine rooms are now offered at 133 dollars a night upwards.

East West Properties reported losses of 241 million rupees for year to March 2017. The hotel unit has capitalized 2014 million rupees of interest in loans in the year to March. (Colombo/Oct20/2017)


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