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Download Link: https://www.mediafire.com/file/xirdpvkhoxmfsoo/Hotel_Sector_Analysis.2022.pdf/file
The highly diversified landscapes and natural attractions in Sri Lanka have been welcoming a growing number of visitors to the country. The total tourist arrivals to Sri Lanka in 2018, amounted to more than 2.3 million, which welcomed 2.17 million in 2017. The revenue generated through travel and the tourism sector remained a high contributor to the national economy, with a contribution of 5.1% towards GDP for two consecutive years i.e 2017 and 2016. in 2017. The earnings from the foreign exchange from tourism sector increased to 15.9% of total foreign exchange earnings in 2017. In order to accommodate the increasing number of visitors, Colombo has more than 14 hotel construction projects in the pipeline that are scheduled to be opened by 2022. This pipeline targeted the luxury segment of the hotel market and aimed to add around 2,000 rooms to the supply and less focused on budget and mid-scale segment with around 600 rooms that are going to be added to the supply. The country recorded average daily revenue (ADR) of LKR 20,500 in 2018 and LKR12,300 of revenue per available room (RevPAR). Sri Lanka recorded around 60% of the occupancy rate for the same year but due to the Easter terror attacks in April 2019, all the key indicators recorded fewer figures when compared to 2018.
Download Link: https://www.mediafire.com/file/xirdpvkhoxmfsoo/Hotel_Sector_Analysis.2022.pdf/file
