John Keells Hotels Expects Pent-Up Demand for Leisure Travel

John Keells Hotels PLC (KHL) saw the revenue momentum losing in its Maldivian and Sri Lankan resort sectors during the June quarter (2Q22), as reported in The Island.

The Srilankan group operates four properties in the Maldives under its Cinnamon Hotels & Resorts brand: Cinnamon Dhonveli, Cinnamon Velifushi, Cinnamon Hakuraa Huraa and Ellaidhoo Maldives by Cinnamon.

“The Maldivian Resorts segment continued its recovery momentum from the previous quarter where the occupancies at our hotels were higher than anticipated during this quarter, while the forward bookings continue to be very encouraging,” stated the Group. Chairman Krishan Balendra said that this “demonstrates a significant ‘pent up’ demand for leisure travel”.

According to JKH’s interim report, revenues in the Maldivian resorts fell to Rs.1.29 billion in the June 2021 quarter from Rs.1.70 billion in the March 2021 quarter, while revenues from the Sri Lankan resorts declined to Rs.241.4 million in June quarter compared to Rs.322.2 million in March.

Featured Image: Cinnamon Dhonveli