HOW SRI LANKA HAS CHANGED FOR LISTED HOTEL FIRMS

In 2010, the hotel businesses of listed John Keells and Aitken Spence were driven by their overseas properties, mainly in neighbouring Maldives. Eight years later, that’s all changing

Aitken Spence owns Heritance Kandalama, Heritance Tea Factory, Heritance Ayurveda Maha Gedara, Heritance Ahungalla, Heritance Negombo, Turyaa Kalutara and Hotel Hilltop Kandy. The group controls 60% of 501-key Hotel RIU and manages Bandarawela Hotel, Earls Regency in Kandy and Amethyst Resort in Pasikudah.

Aitken Spence’s overseas operations are dominated by six resorts in the Maldives under the Adaaran brand. The group operates one hotel each in Oman (Al Falaj) and Chennai, India (Turyaa). It also manages three other properties in Oman (Desert Night Camp, Al Wadi and Sur Plaza).

John Keells Holdings (JKH) operates three city hotels, Cinnamon Grand (501 rooms), Cinnamon Lakeside (346)—both five stars—and Cinnamon Red (240). Its resorts include Cinnamon Bay Beruwala (200 rooms), Hikka Tranz (150), Trinco Blu (81), Bentota Beach (133), Cinnamon Wild Yala (68), Cinnamon Lodge Habarana (138), Habarana Village (108) and Cinnamon Citadel Kandy (119).

The group operates three properties in the Maldives: Cinnamon Dhonveli (148 rooms), Ellaidhoo Maldives (112) and Cinnamon Hakuraa Huraa (80).

 

Graphic by: Yomal Vajrajith Payagala

 

Revenue and profit numbers for years ending March 2010 and 2017 (Source: Aitken Spence PLC, Aitken Spence Hotel Holdings, John Keells Holdings, John Keells Hotels and Asian Hotels and Properties)