Sri Lankaâ€™s Bentota Beach to be closed for new hotel
ECONOMYNEXT – Sri Lanka’s John Keells Hotels made a net profit of just a billion rupees in the March 2017 quarter, up 15% from a year ago, with the company saying its beach resort in Bentota is to be closed to build a new hotel.
March quarter sales of the company were up 5% to Rs3.8 billion with the gains in earnings mainly from its Maldivian resorts, according to interim results filed with the stock exchange.
Quarterly earnings per share were 70 cents. EPS for the financial year ending 31 March 2017 were Rs1.27 with net profit up 6% to Rs1.8 billion
John Keells Hotels said Bentota Beach by Cinnamon under Ceylon Holiday Resorts Ltd will be closed for the construction of a new 151 room hotel from 01 July 2017.
(COLOMBO, June 01, 2017)