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METROPOLITAN LANKA HOTELS -VIABILITY STUDY REPORT

METROPOLITAN LANKA HOTELS-VIABILITY STUDY REPORT

TEAM MEMBERSAPURV MUKUND BRAHMAPURKARARJUN.SARYA.SMURALI KRISHNAN. VRAHUL.H.V

CONTENTSOBJECTIVESUMMARY OF THE STUDYMARKET SUMMARYEXPERIENCESURVEY STATISTICSKANDYNUWARA ELIYABENTOTAMIRISSAYALANEGOMBOSIGIRIYA & DAMBULLATRINCOMALEEOUR SUGGESTIONS

OBJECTIVES OF THE STUDYTo determine feasible locations for establishing Hotel chains for Metropolitan Lanka Hotels across Sri Lanka.

Summary of the study Studied 19 potential locations spread across the Island.8 locations and 290 rooms were the initial hypothesis from secondary research.Visited 230 Star Hotels spread across Sri LankaInteracted with 314 tourists from 34 nationsVisited tourists attractions to determine the attractiveness of these locations

Market summary Tourism is the fastest growing industry in Sri Lanka.The number of tourist arrival in Sri Lanka has been showing steady growth.Average length of stay according to SLTDA is around 10.5 daysMajor players in Sri Lankan markets are Jetwing, Cinnamon, Aitken spence, Amaya, Earls group, Browns group and Uga.Tourism is the major employment provider as it provides employment to around 2.5 lakh people directly and indirectlyAnnual occupancy according to SLTDA reports is around 74%

SURVEY STATISTICS

KANDYSecond biggest city of Sri LankaCultural cityAugust Perahera FestivalPresent in most of the tourists itineraryTourist Attractions: Kandy Tooth temple, Kandy Lake, Udawattekele Sanctuary, Pallekele International Cricket Stadium

KANDY

AVERAGE NUMBER OF ROOMS:- 46AVERAGE EMPLOYEES PER ROOM:-1.84:1AVERAGE OCCUPANCY:- 49.95%MEDIAN OCCUPANCY:- 50%AVERAGE ROOM RATE:- 113.745 USD

RECOMMENDATION:-20 ROOMSNUMBER OF EMPLOYEES REQUIRED:-37TOTAL REVENUE:-610298.7975 USDTOTAL EXPENSE:-244119.519 USDTOTAL PROFIT AFTER TAX:-347870.3 USD

NUWARA ELIYAMost beautiful hill stationLess crowded than KandyMarch, April Indians (Summer)June, July - Middle-East seasonAugust Kandy Perahera visitorsNovember April European SeasonHoneymoon DestinationTourist attractions: Worlds End, Pidutalagala Mountain, Moon Plains, Seetha Eliya, Gregory Lake, Tea Estates

NUWARA ELIYA

AVERAGE NUMBER OF ROOMS:- 34AVERAGE EMPLOYEES PER ROOM:-1.65:1AVERAGE OCCUPANCY:- 49.65%MEDIAN OCCUPANCY:- 50%AVERAGE ROOM RATE:- 117.215 USD

RECOMMENDATION:-15 ROOMSNUMBER OF EMPLOYEES REQUIRED:-25TOTAL REVENUE:-314458.5413 USDTOTAL EXPENSE:-125783.4165 USDTOTAL PROFIT AFTER TAX:-179241.4 USD

BENTOTAShallow and Calm beachesHigher LOSBeach properties have good occupancyPeak Season: November April (Room rate almost doubles)Preferred location for destination weddingsDomestic weddings in off season Ease of access by Southern Highways and Railway linesTourist Attractions: Bentota Beach, Turtle Hatcheries

BENTOTAAVERAGE NUMBER OF ROOMS:- 76AVERAGE EMPLOYEES PER ROOM:-1.78:1AVERAGE OCCUPANCY:- 51.01%MEDIAN OCCUPANCY:- 50%AVERAGE ROOM RATE:- 130.41 USD

RECOMMENDATION:-40 ROOMSNUMBER OF EMPLOYEES REQUIRED:-72TOTAL REVENUE:-951993 USDTOTAL EXPENSE:-380797.2 USDTOTAL PROFIT AFTER TAX:-542636 USD

MIRISSAHighly preferred by touristsSpot for Whale watching and Dolphin watchingNot well established marketPeak Season: November AprilAverage LOS is around 3.5 to 4 daysTourist Attractions Mirissa Beach, Weligama Beach, Kushta Raja Vihara, Weherahena Buddhist Temple, Matara Paravi Duwa Temple, Star Fort

mirissa

AVERAGE NUMBER OF ROOMS:- 27AVERAGE EMPLOYEES PER ROOM:-2.79:1AVERAGE OCCUPANCY:- 74.78%MEDIAN OCCUPANCY:- 89%AVERAGE ROOM RATE:- 156 USD

RECOMMENDATION:-40 ROOMSNUMBER OF EMPLOYEES REQUIRED:-112TOTAL REVENUE:-842712 USDTOTAL EXPENSE:-337084.8 USDTOTAL PROFIT AFTER TAX:-480345.8 USD

YALA

Round the year tourists comeNo season and off-seasonTourist Attractions Yala National Park, Bundala National Park, Kataragama temple, Tissamaharama Raja Maha Vihara, Tissa Dagoba, Buduruwagala.Yala National Park has got the maximum number of visitors among the parks in Sri Lanka.Yala National Park is listed in SLTDA report as one of the highest revenue earning sites.

YALA

AVERAGE NUMBER OF ROOMS:- 42AVERAGE EMPLOYEES PER ROOM:-1.81:1AVERAGE OCCUPANCY:- 50.20%MEDIAN OCCUPANCY:- 40%AVERAGE ROOM RATE:- 81.345 USD

RECOMMENDATION:-20 ROOMSNUMBER OF EMPLOYEES REQUIRED:-37TOTAL REVENUE:-237527.4 USDTOTAL EXPENSE:-95010.96 USD TOTAL PROFIT AFTER TAX:-135390.6 USD

NEGOMBOProximity to Bandaranaike International AirportEarly morning and late night passengersTransit passengersAncient cities travellersRound the year travellersBeach properties have high occupancyAffordable than ColomboNegombo to Colombo 36.7 Km, 50 min travel timeTourist Attractions Negombo Beach, Angurukaramulla Temple

NEGOMBO

AVERAGE NUMBER OF ROOMS:- 59AVERAGE EMPLOYEES PER ROOM:- 2.58:1AVERAGE OCCUPANCY:- 66%MEDIAN OCCUPANCY:- 100%AVERAGE ROOM RATE:- 128.15 USD

RECOMMENDATION:-40NUMBER OF EMPLOYEES REQUIRED:-104TOTAL REVENUE:-1234853.4 USDTOTAL EXPENSE:-493941.36 USDTOTAL PROFIT AFTER TAX:-703866.4 USD

SIGIRIYA & DAMBULLACentre point of Cultural triangleWell connected and less traffic roadsEase of access to Anuradhapura, Polonnaruwa and Trincomalee.Sigiriya Rock is one of the World Heritage Sites7 lakh visitors annually Tourist Attractions Sigiriya Lion Rock, Pidurangala Rock, Dambulla cave temple, Mihintale, Anuradhapura and Polonnaruwa ancient ruins

SIGIRIYA & DAMBULLA

AVERAGE NUMBER OF ROOMS:- 65AVERAGE EMPLOYEES PER ROOM:-1.97:1AVERAGE OCCUPANCY:- 58.90%MEDIAN OCCUPANCY:- 41.70%AVERAGE ROOM RATE:- 124.945 USD

RECOMMENDATION:-30 ROOMSNUMBER OF EMPLOYEES REQUIRED:-60TOTAL REVENUE:-570517.6118 USDTOTAL EXPENSE:-228207.0447 USDTOTAL PROFIT AFTER TAX:-325195 USD

TRINCOMALEEVirgin BeachUpcoming tourist hot spotNo big players at present Established players in pipeline.Season May to OctoberTourist Attractions: Trincomalee Beach, Nilaveli Beach, Marble Beach Koneswaram Temple, Pigeon Island National Park

TRINCOMALEE

AVERAGE NUMBER OF ROOMS:- 41AVERAGE EMPLOYEES PER ROOM:- 1.84:1AVERAGE OCCUPANCY:- 49MEDIAN OCCUPANCY:- 47.5%AVERAGE ROOM RATE:-98.7 USD

RECOMMENDATION:-30 ROOMSNUMBER OF EMPLOYEES REQUIRED:-56TOTAL REVENUE:-513363.375 USDTOTAL EXPENSE:-205345.35 USDTOTAL PROFIT AFTER TAX:-292617.1 USD

PlacesAnnual Revenue ($) Annual Expenditure ($)Annual PAT ($)Negombo1234853.4493941.36703866.4Bentota951993380797.2542636Mirissa842712337084.8480345.8Yala237527.495010.96135390.6Kandy610298.7975244119.519347870.3Nuwara Eliya314458.5413125783.4165179241.4Sigiriya/Dambulla570517.6118228207.0447325195Trincomalee513363.375205345.35292617.1Total5275724.1262110289.653007163

OUR SUGGESTIONSTraining and Development program for employees.Hotels should be registered in Booking.com and maintain a good rating.Tie up with major players like Travel Bird (Europe), Arena travels (UK), Kuoni Travels, Aitken Spence, Walkers Tours (Colombo), Anulanka Tours (Negombo), Go Vacation Tour agency, (Sri Lanka), Total Travel Solution (Sri Lanka), Apple Holidays (India)Tie up with lonelyplanet.com which is the worlds largest travel guide.