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Sri Lanka Equity Forum » Stock Market Talk » Sri Lanka: John Keells Holdings trying to advise SL Government to eliminate Global Booking Engines such as Agoda, Yohobed, Booking.com, TripAdvisor, FindMyFare, Expedia and AirBnB from Sri Lanka

Sri Lanka: John Keells Holdings trying to advise SL Government to eliminate Global Booking Engines such as Agoda, Yohobed, Booking.com, TripAdvisor, FindMyFare, Expedia and AirBnB from Sri Lanka

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Mark Levin


Stock Analytic
Stock Analytic

This clearly shows that John Keells is trying to 'Kill the startup ecosystem of Sri Lanka by asking the government to block the websites and applications such as Agoda.com, Booking.com, TripAdvisor.com, etc... and to control prices of tourism sector having exorbitantly costly hotels that will kill tourism sector of the country and income. they are bogusly marketing about 'Tax Loss' to block online booking engines and boutique hotels and other rooms available for tourists who wish to spend less for rooms but more for other entertainment. This shows people like Krishan Balendra are old 'Typical' Colombo Shitheads who try to block competition and block avenues of other businesses in the country. Jetwing owner Hiran Cooray and family are also similar ideologists who try to block competition business in the country like that so they can survive without competition. 



No government should do such blockade of industries to the benefit of few companies and few billionaires. It is unethical. They try to disrupt industry growth and business growth for their own survival.


John Keells in their latest annual report indirectly hintsout that they are in a difficult position in completing the US $ 850 million Cinnamon Life resort which costs over Sri Lankan Rs. 130 billion to complete. As a result in the Annual Report they says that John Keells is exploring to build properties more in a Asset-Light model where JKH may operate properties owned by others. So for that JKH is trying to eliminate small players and small operators in the Sri Lanka's tourism market because they are already stuck with Rs.130 billion funds for Cinnamon Life. In future JKH will build less hotels because right now they are facing the biggest trouble to complete their biggest ever project.







Sri Lanka conglomerate - JKH seeks state help to beat tourism start-ups



Jun 16, 2017 11:29 AM GMT+0530 | 0 Comment(s)




Enlarge this image Click to see fullsize


MARKET REGULATION:  While large booking engines in Asia like Agoda.com use the principle of disclosure regulation, the website yohobed.com uses branding which is founded principle of merit.



ECONOMYNEXT - Sri Lanka's John Keells Holdings is seeking government help to beat competition by unleashing new regulations on players on the small business and start up ecosystem which is expanding East Asia-style with the help of online booking engines.

"Although the supply in room inventory was mainly driven by the graded category, competition is also increasing from the informal sector which is priced attractively considering the lower cost base and different service offering," JKH, told shareholders in the annual report.

"Provisions for a suitable regulatory framework for the registration and regulation of the informal sector will be imperative to ensure that tourism services provided in the country are of a minimum regulated standard," the conglomerate which has annual revenues of  68 billion rupees said.

Small hotels, which do not have inflated building costs are mushrooming in Sri Lanka mimicking the growth seen in East Asia earlier, driven by booking engines like Agoda.com and Booking.com.

At sites like Agoda.com hotels are under constant self-regulation by solicited user reviews forcing management to take corrective action or lose ratings, subject them to on-going permanent regulation. 

The online booking engine revolution started in Asia with sites such as Asiarooms.com, which is no longer in operation, mainly started by expatriates resident in Thailand. Agoda.com also has Thai links, analysts familiar with the East Asian growth story say.

Sri Lanka's tourism promotion office has already begun to clamp down on smaller establishments with a set of regulations. The regulations go beyond safety and fire codes, which are needed for all buildings regardless of whether occupants and foreign or domestic.

Regulation by the state allows relevant agencies to collect fees by imposing rules. Critics also say in many countries state regulations also allows inspectors and staff to collect cash to help some operators avoid the regulations.

Standards and facilities on online booking engines are however transparent and users are free to accept them or not. 

They use the principle of 'disclosure regulation', practiced in many advanced financial markets, instead setting arbitrary rules on number of rooms, their sizes or facilities which users may or not care about, based on perceived merits.

Less adventurous travellers can avoid newer hotels and instead opt for older establishments with a greater number of reviews with established ratings.

Analysts say in a competitive capitalist market system, firms beat others by keeping costs down or building brands and not by seeking state help to crush competition.

Meanwhile the market is also evolving 'merit regulation' mechanisms.

The brand Yohobed.com offers visitors minimum standards without going through the hassle of trolling through reviews.
 
Meanwhile JKH said the state regulations will "ensure that leisure operators are on an equal platform in terms of regulations and taxes and other levies, which currently deprive the Government of much needed tax revenue."






It is not clear why the government is not getting taxes from rooms sold on booking engines as customers are already charged taxes. A booking engine makes it easier for a government to collect taxes, not more difficult as they can be directly remitted to the tax authorities, observers say.

On sites like Agoda.com a 6.41 percent National Building Tax and another 15 percent tax - presumably VAT - is also already collected from customers.

Due to a shortcoming in Sri Lanka's value added tax law, voluntary registration below the threshold is not possible and all customers are also not required to be given an invoice. (Colombo/June16/2017)



http://www.economynext.com/Sri_Lanka_conglomerate_seeks_state_help_to_beat_tourism_start_ups-3-8143.html

Chinwi

avatar
Associate Director - Equity Analytics
Associate Director - Equity Analytics
මම මුලින් හිතුවෙ තවත් කවුදෝ පිස්සු ලියනව කියල​.

ජෝන් කීල්ස් වගේ ඉහලම සංචාරක සමාගමක්   කරනවද ඒ වගේ ඉල්ලීමක් කියල ?

ඒ සයිට් වලින් තමයි දැන් ලෝකෙ වැඩි දෙනෙක් බුකිං කරන්නේ.  
ඒවගෙන් "ඇංචො පැංචො කරගන්නා බුකිං අපට තර්ජනයක් නිසා රජයේ දැඩි පාලනයක් දෙන්න"   වගේ පිස්සු කතාවක්  කියනවද  වගේ ඉහලම ගනයේ සමාගමක් ?


නමුත් මගේ ඒ සිතුවිල්ල වැරදී ගියේය​.  

වාර්ථාව අනුව ඒ වගේ එකක් ඇත්තතම සිදු වෙලාය​. එහෙම අදහසක්  ඇත්තටම ලියවිලාය​.


රටේ ඇතිවෙමින් තියෙන ගුජුප්සාජනක පිස්සු හුටන් තත්ත්වයට  තවත් නල්ල මලේ පිස්සුවක් එකතු වෙලාය​ !



JKH වොරන්ට් එනවිට මුල සිටම මා එහි සාර්ථකත්වය ගැන ප්‍රශ්න කලේ ඇයිද යන්න දැන් තේරුම් යන්න ඕනෑය​.  දරන්න බැරි තරම් මහා වියදමක් කර  වියදමේ තරමට ඉල්ලම නැති මහා පතලක් බහිමින් පවතී.

D.G.Dayaratne


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
I think this is main problem of  our private sector

They can't do business without direct govt support

This is nature of our private sector

Not" Pissu Hutan" situation

D.G.Dayaratne


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Last para of CHINWI is 100 % correct

දරන්න බැරි තරම් මහා වියදමක් කර  වියදමේ තරමට ඉල්ලම නැති මහා පතලක් බහිමින් පවතී






Basil has done same thing to SL Economy

ruwan326

avatar
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@D.G.Dayaratne wrote:Last para of CHINWI is 100 % correct

දරන්න බැරි තරම් මහා වියදමක් කර  වියදමේ තරමට ඉල්ලම නැති මහා පතලක් බහිමින් පවතී






Basil has done same thing to SL Economy
පසු ගිය දිනක මා මාතර දික්වැල්ල නගරයෙන් ඉඩමක් මිළදී ගැනීමට ගියෙමි. සුනාමියෙන් පසු ඉඩම් මිළ පර්චසයක් රුපියල් 35 000-40 000 අතර මිළකට අලෙවි වූ බව අසන්නට ලැබිණි.   දික්වැල්ල නගරයේ අලුතින් පටන්ගත් sea plane තොටුපළක් ඇති බැවින් දැන් පර්චසයක් රුපියල් 150 000-300 000 අතර මිළකට විකිනේ. බොහොමයක් ඉඩම් මිළදී ගෙන  ඇත්තේ විදේශිකයන් විසිණි. ඔවූන් ගත් මිළ මෙන් කිහිප ගුණයකින් නැවතත් අපිටම විකුණනු ලැබේ. මා දන්නා  තැරව්කරු සතියකට  ප්‍රථම කළ ගනුදෙනුවෙන් රුපියල් කෝටි දෙකක්  තැරව් ගාස්තු ඉපැයු  බවත් කොළොඹ නීතීඥ වරුන් දෙදෙනෙක් මිළදී ගැනීම කල බවත් ඔහු මට පැවසීය.

නැවතත් සුනාමික් පැමිණියහොත්/Air taxi එක නැවතුණොත් මා ඉහත මිළට ඉඩමක් ගැනීම නුවණැති ක්‍රියාවක් බව මට හැඟුනි.එදින මට ලංකාවේ කොටස් වෙළ පොලේත් සිදුවන්නේ මෙවැනීම දෙයක් නොවේදෝ යැයි  හැඟුණි.   Very Happy Very Happy Very Happy

https://www.youtube.com/watch?v=N3a6SmrDayo

reyaz

avatar
Manager - Equity Analytics
Manager - Equity Analytics
@D.G.Dayaratne wrote:Last para of CHINWI is 100 % correct

දරන්න බැරි තරම් මහා වියදමක් කර  වියදමේ තරමට ඉල්ලම නැති මහා පතලක් බහිමින් පවතී






Basil has done same thing to SL Economy

Actually, the fatasses in board rooms have fantasies and "others have to pay the price?" 

This is the problem in SL and generally, around the world. They celebrate every time they make a profit dumping that loss to next year thanks to the johny walker blue label බොතල් සියයක් නිසා they get bankrupt in the end. Then cones this: government influence to shutdown the competition!

deli

avatar
Senior Equity Analytic
Senior Equity Analytic
@reyaz wrote:
@D.G.Dayaratne wrote:Last para of CHINWI is 100 % correct

දරන්න බැරි තරම් මහා වියදමක් කර  වියදමේ තරමට ඉල්ලම නැති මහා පතලක් බහිමින් පවතී






Basil has done same thing to SL Economy

Actually, the fatasses in board rooms have fantasies and "others have to pay the price?" 

This is the problem in SL and generally, around the world. They celebrate every time they make a profit dumping that loss to next year thanks to the johny walker blue label බොතල් සියයක් නිසා they get bankrupt in the end. Then cones this: government influence to shutdown the competition!

Actually I have to disagree with you!

JKH &, specifically khl has contributed to SL government & economy in many ways.

Those websites are only focussing on low niche of tourists, what sri Lanka needs is the highest niche of tourists. Only KHL and companies tjat are operating directly with their clients have higher profitability.

deli

avatar
Senior Equity Analytic
Senior Equity Analytic
Low profit margins are encouraged by jewish bankers who want to remain rich by charging higher interest rates by the said subjects.

ice4083


Senior Equity Analytic
Senior Equity Analytic
@deli wrote:
@reyaz wrote:
@D.G.Dayaratne wrote:Last para of CHINWI is 100 % correct

දරන්න බැරි තරම් මහා වියදමක් කර  වියදමේ තරමට ඉල්ලම නැති මහා පතලක් බහිමින් පවතී






Basil has done same thing to SL Economy

Actually, the fatasses in board rooms have fantasies and "others have to pay the price?" 

This is the problem in SL and generally, around the world. They celebrate every time they make a profit dumping that loss to next year thanks to the johny walker blue label බොතල් සියයක් නිසා they get bankrupt in the end. Then cones this: government influence to shutdown the competition!

Actually I have to disagree with you!

JKH &, specifically khl has contributed to SL government & economy in many ways.

Those websites are only focussing on low niche of tourists, what sri Lanka needs is the highest niche of tourists. Only KHL and companies tjat are operating directly with their clients have higher profitability.

Aspiring to get a share of the highest niche of tourists is a good, but in terms of service SL hotels has a long way to go. foreign tourists are better informed now due to technology & it is better to provide what is promised in at lower cost accommodations than become common cheats like the big hoteliers we have in this country. 

Quibit

avatar
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
If JKH seek Govt help to stop Agoda and booking.com they should stop Uber also from operating in Sri Lanka.
John Keells is planning to by Pickme and Dialog is planning to takeover TukTuk. All Sri Lankans will be frogs inside a well without international exposure. We seems going back to the 1977 era of closed economy under Sirimavo Bandaranaike and NM Perera. Sad

kumarweerarathne

avatar
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Jst think this economic fall has been started since we turned to opened economy in 77 era, nothing happened ,:-) factories closed, less production,Imports became da priority, Im nt saying dat opened economy is dat bad, but we could have gone another 10 or 20 years with closed economy to stand alone .

D.G.Dayaratne


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
The problem of this country is not open or closed Economy

Closed economy mainly failed due to mismanagement of Bureaucracy It is inheritance feature of closed Economic policy

Open economy failed  due to politicians They tried to get personal benefits Even to day it is same

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Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
"Open economy failed  due to politicians They tried to get personal benefits Even to day it is same"


Concept of open economy is rapidly marching with on going competitiveness & globalization. Immoderate politicos, trade unions & various kinds of societies scream out unknowing how far behind Sri Lanka stands.     


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