Sri Lanka Stock Picks

Sri Lanka stock picks site has been developed to give first hand information with regard to share trading opportunities available for investors who do not like go through lengthy research reports, calculations,etc but to have a clear idea about stocks that have future up side potential.Our service is just not for day traders but for the investors who wish to see their money growing in the long run.Our main objective is to provide information relating to trading under one roof.

Wednesday, June 8, 2011

The Fortress records Rs. 84.4 mn profit

The Fortress Resorts PLC, the company behind Sri Lanka’s premiere boutique resort, The Fortress Resort & Spa in Koggala, has declared a net profit for the first time since it commenced operations in 2006. One of two hospitality companies owned by the prestigious Vallibel Group, the luxury hotelier recorded a net profit of Rs. 84.4 Mn for the year ended March 31,2011, declaring it a landmark year for The Fortress. The iconic hotel generated a gross profit of Rs. 305 Mn for the year, a 66% increase from the previous year’s Rs. 183.4 Mn

Renowned for its unparalleled luxury and its reputation for attracting elite international guests, The Fortress, which boasts 53 decadent rooms and suites, maintained 65% occupancy during 2010/2011, often being completely occupied during peak times such as holiday months. The elegantly luxurious boutique hotel, inspired by the colonial Dutch architecture of the famous Galle Fort, is one of 6 hotels in Sri Lanka recognised by “Small Luxury Hotels of the World”, a collection of over 520 luxury hotels with exclusive membership for patrons of luxury boutique hotels.

“Sri Lanka’s potential for luxury tourism is indisputable,” said Dhammika Perera, Chairman of The Fortress Resorts PLC and the Vallibel Group. “With post-war development firmly underway and resulting in positive market conditions in the tourism sector, we have seen growth well beyond our expectations this year.” He further stated that the booming inbound tourism trends have also played their part in The Fortress’s growing occupancy figures and that the company and its iconic hotel are gearing to cater to further growth in inbound tourism projected for the coming years.

“We are expecting great things for The Fortress in the upcoming year, including for our occupancy levels to go up even further, and we are ready to deliver a level of service and luxury that will take the industry by storm,” elaborated Perera. “Based on several positive indications, we are anticipating increasing demand for our most luxurious rooms in particular.” He went on to say that The Fortress is undeniably amongst the greatest treasures of the Sri Lankan hotel industry and that the Vallibel Group is poised to take it to even greater heights.

source - www.dailymirror.lk