Sri Lanka Equity Forum
Dear Reader,

Registration with the Sri Lanka Equity Forum would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.

Thank You
Sri Lanka Equity Forum

Discussion Forum for Stock Market Investors in Sri Lanka

සිංහල පරිවර්තනය
Submit Post
Submit Post

Latest topics

» Daily Stock Market Update
by Insights Equity Yesterday at 5:37 pm

by sanjulanka Yesterday at 10:04 am

» UBC.N0000- Donnt miss this
by Trader321 Yesterday at 9:47 am

» BFN - DEAL OVER - TO BE DE LISTED SOON AFTER THE PRIVATE PLACEMENT ඩීල් එක ඉවරයි @ 19-59 - කොටස් වෙළදපලෙනුත් ඉවත් කරගන්නා බවට ආරන්චි
by sanjulanka Yesterday at 7:03 am

» While waiting for the market to rebound, look for bargains if you can afford the risk. Try to be active at the right time to gain something
by Asoka Samarakone Sun Mar 17, 2019 3:18 pm

» presidential election very soon ?
by Trader321 Sun Mar 17, 2019 11:42 am

» ඉතා ඉක්මනින් සේවක අර්තසාදක අරමුදල නැවත කොටස් වෙළදපල ට
by mahasona2 Sun Mar 17, 2019 3:43 am

» Central Bank targeting early return of EPF to stock market
by mahasona2 Sun Mar 17, 2019 3:24 am

» Lofc delisting??
by Bdcdman Sat Mar 16, 2019 11:16 pm

» Weekly Stock Market Roundup
by Insights Equity Sat Mar 16, 2019 5:37 am

» Sri lanka tourism income reached 4.4 billion USD 2019
by Uaecoindubai Fri Mar 15, 2019 2:04 pm

» Today is UBC.N0000 day.
by Trader321 Fri Mar 15, 2019 11:32 am

by Bdcdman Fri Mar 15, 2019 11:11 am

by Miss-Sangeetha Fri Mar 15, 2019 10:52 am

by ranferdi Fri Mar 15, 2019 8:45 am

by mahasona2 Thu Mar 14, 2019 11:05 pm

» AEL.N0000 is the Next AAIC.N0000 -
by wisdom79 Thu Mar 14, 2019 9:38 pm

by Yahapalanaya Thu Mar 14, 2019 6:09 pm

» ලාංකීය හෙදියකට ලක්ශ 9 ක් ගෙවන ඇමෙරිකාව
by Uaecoindubai Thu Mar 14, 2019 3:48 pm

» BALA.N potential
by NP Thu Mar 14, 2019 2:30 pm

by karuna2 Thu Mar 14, 2019 11:43 am

» රජයේ පඩි දෙගුණයක් වුන හැටි
by Uaecoindubai Thu Mar 14, 2019 9:31 am

» UBC.N0000 Vs AEL.N0000 - What will be the best
by Trader321 Thu Mar 14, 2019 9:15 am

» UBC - Stake up by big invester
by sanjulanka Thu Mar 14, 2019 7:57 am

» EFP TO start again invest in Stocks
by mahasona2 Thu Mar 14, 2019 1:10 am

» Second reading of budget passed by 119 Votes - Shows this Government is Confident
by Maharaja Wed Mar 13, 2019 11:27 pm

» UBC - What is going on
by mahasona2 Wed Mar 13, 2019 9:51 pm

» Fall of stocks - Big Players are behindThis is the time to buy and collect stocks
by mahasona2 Wed Mar 13, 2019 9:49 pm

» Government salary hike almost double..
by Uaecoindubai Wed Mar 13, 2019 9:32 pm

by soileconomy Wed Mar 13, 2019 7:19 pm

» UBC.N0000 ? Expert ideas please ?
by Trader321 Wed Mar 13, 2019 2:31 pm

» UBC.N000- keep eye, something is happening
by Trader321 Wed Mar 13, 2019 2:22 pm

» How about EAST @ 10/= end of march
by karuna2 Wed Mar 13, 2019 2:21 pm

» CHOU.N0000
by Shiranleet Wed Mar 13, 2019 11:16 am

» Why Access might be over Rs. 2000/ per share valued along with Banks by 2049, due to New Budget Proposals on Joint Venture Construction projects
by Chanaka303 Wed Mar 13, 2019 9:58 am

» HPWR-Unnoticed Gem?
by Chanaka303 Wed Mar 13, 2019 9:57 am

» What is going on with TFC.N0000
by Gihan04 Wed Mar 13, 2019 9:45 am

» DIST.N0000
by Bdcdman Wed Mar 13, 2019 1:13 am

» Sri Lanka largest Foreign Direct Investments realizer and Deal Maker: Union Bank connected Alex Lovell might own and control over US $ 40 billion worth properties by 2025 in Sri Lanka, around over 30% of Sri Lanka's GDP of US $ 120 billion
by JosephMark Wed Mar 13, 2019 12:40 am

» Hpfl and rhtl
by Yahapalanaya Tue Mar 12, 2019 7:58 pm

» Exit out from EAST, Valuations are low. Dont wait till the month end.
by charithaa Tue Mar 12, 2019 12:33 pm

» EAST.N0000 - Huge loss...Donn't get into these traps.
by investo Tue Mar 12, 2019 12:05 pm

» Sfl keep hold
by investo Tue Mar 12, 2019 10:31 am

» Mobile Trading: the new BUZZ word in Capital Markets Industry!
by Brenda John Tue Mar 12, 2019 10:19 am

» Sri Lanka’s Banking Sector shares fall, indices at a 5 year low March, 1, 2019
by soileconomy Tue Mar 12, 2019 7:16 am

» Business confidence continues to rise
by soileconomy Tue Mar 12, 2019 7:13 am

» Future of LCEY/CLFB
by Monster Tue Mar 12, 2019 12:45 am

by sanjulanka Tue Mar 12, 2019 12:13 am

You are not connected. Please login or register

Sri Lanka Equity Forum » Stock Market Talk »  Hotels and Travels Sector

Hotels and Travels Sector

Go down  Message [Page 1 of 1]

1 Hotels and Travels Sector on Tue Jan 01, 2019 8:53 pm


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Hotels Association poised to make major economic contribution

The hotel industry remains the only industry in the country which has the potential to turn around the sluggish economy. We eagerly look forward to the opportunity of partnering with the government in taking Sri Lanka’s economy to new levels, with proper incentives and conditions in place similar to those in other countries in the region, The Hotels Association of Sri Lanka (THASL), said in a year-end statement yesterday.

“We further request the government to pursue both legal and policy reforms that will recognize tourism as an export industry and establish the necessary framework for a vibrant, diverse and successful tourism industry in Sri Lanka,” THASL President Sanath Ukwatte said.

THASL requests the government, once again, to treat the industry fairly. “Excessive and arbitrary taxation has made it very difficult for our member hotels to compete with other regional countries. Sri Lanka’s hotels pay 22 percent tax on the total revenue (not profit) in addition to corporate income tax (on profit). 

This includes taxes such as Value Added Tax (VAT), Nation Building Tax (NBT), Tourism Development Levy (TDL) and Economic Service Charge (ESC). This multiple taxation on both revenue and profit creates an environment that is unfavorable for Sri Lanka’s hotels and thereby makes our tourism offering uncompetitive in comparison to our neighbours. This is our strongest disincentive in developing the tourism industry.”

“In addition to the existing revenue-based tax burden, the tourism industry is also faced with municipalities and local governments threatening to charge an additional 1percent tax on total revenue. We believe this tax is entirely unrealistic, discriminatory and arbitrary as it only targets the hotel industry. Hotels already pay annual municipal and local government rates to cover municipal and local government services. We request the Government to abolish all such arbitrary taxes and adopt a simplified and fair tax policy similar to that applicable in other countries in the region. This is an urgent priority,” Ukwatte added.

“We would like to see the government taking some meaningful steps in the New Year to relieve us of uncompetitive tax burdens and encourage the sector to enhance and grow. We are hopeful that the budget for 2019 will accommodate our requests, in order to realize and strengthen the inherent potential of the industry.” 

THASL, which has a member base of over 250 hotels, said Sri Lanka is now steadily on the path to recovery, following a series of internal issues that rocked the industry.

2 Re: Hotels and Travels Sector on Wed Jan 02, 2019 7:51 am


Equity Analytic
Equity Analytic
Higher taxes also leads businessmen to find ways to circumvent the tax payments as well.

3 Re: Hotels and Travels Sector on Tue Jan 08, 2019 8:14 pm


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Sri Lanka's Hunas Falls soars amid take-over offer

Jan 07, 2019 

Sri Lanka's Hunas Falls Hotels Plc, a hotel in Sri Lanka's knuckles mountain range has soared 19.3 percent amid a take-over offer.

Carbotels (Pvt) Ltd, and Amaya Leisure Plc has which own 66.2 percent of the firm has received a take-over-offer for their entire holding subject to due diligence, Hunas Falls said in a stock exchange filing.
No price was mentioned.

On Friday the stock gained 21.40 rupees to close at 131.80 rupees.

In the six months to September 2018, the hotel earned revenues of 68.7 million rupees up 4 percent from a year earlier and lost 1.3 million rupees. 

But a profit of 4.8 million rupees, down from 6.5 million rupees was posted for the quarter.
The hotel is located off Kandy.

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum