Revenue and room inventory up at Citrus Leisure
View(s):Citrus Leisure PLC has sharply increased revenue by over 200 per cent in 1Q FY2016 against the 2015 comparative period with Waskaduwa Beach Resort contributing Rs. 100 million to the top line. Waskaduwa Beach Resort, the largest in the Citrus chain, began commercial operations in June 2014 with the addition of its 150 rooms raising the Citrus group’s total room inventory to 240.
“Despite being new on the tourism landscape, Waskaduwa recorded a satisfactory level of occupancy of 44 per cent while Hikkaduwa achieved an impressive 62 per cent occupancy during the quarter under review which is normally considered the off-season in the tourism calendar,” the company said.
The room inventory of the group went up to 240 in 1Q FY2016 compared to 90 rooms in 1Q FY2015. Waskaduwa Beach Resort added 150 five star graded rooms to the portfolio including 140 Superior Rooms, 06 Deluxe Rooms, 01 junior/family Suite and 01 Presidential Suite. In June 2015, the group also entered into a management contract to operate The Steuart Hotel in Colombo, a property owned by the George Steuart Group.
“The management contract reflected the group’s strong commitment towards the tourism sector by adding another 50 rooms to the portfolio from 2Q FY2016. The Steuart by Citrus will operate as a boutique business hotel offering the convenience of its prime location,” it said.