Club Hotel Dolphin Targets Rs500mn following Refurbishment

04th October 2010, www.dailynews.lk, By Charumini de Silva

Serendib Leisure Management Ltd targets a turnover of Rs 500 million this financial year. The company also targets Rs 650 million in next financial year through their newly refurbished Club Hotel Dolphin in Waikkal.

Hemas’ Club Hotel Dolphin in Waikkal underwent a Rs 530 million refurbishment from May to September this year. Out of the total investment, Rs 370 million was from borrowings while the balance was from the company. The hotel is endowed with a dual personality with a vibrant active play side and a peaceful and quiet pause side, Serendib Leisure Management Chairman Abbas Esufally said.

The hotel recorded a turnover of over Rs 364 million with a profit (before tax) of Rs 72 million. “We expect a turnover of Rs 500 million during this financial year and hope to increase it to Rs 650 million in the next financial year,” Esufally said.

Club Hotel Dolphin General Manager Chamin Wickramasinghe said the hotel’s star class will be upgraded to a four star from November and the hotel is ready to welcome guests in the winter season as a newer and a better up market property.

There will be another 50 rooms added by 2012 under the second phase of the property’s master plan of refurbishing and the banquet facilities will be improved under the third phase.

“There is a commendable demand for banquet functions. There was Rs 17 to Rs 20 million revenue generated through banquet functions last year. With the developments in the banquet facilities we expect to increase the revenues from banquet facilities to Rs 30 to 35 million,” he said.

The average occupancy rate at present is 85 percent. The hotel expects that it will improve during the winter season.

Nevertheless, the occupancy rates are better than last year and for the winter season there are over 50 percent reservations.

The main markets are the UK, Germany, Italy, Holland and India. “The European market is our main focus as they visit throughout the year unlike the other markets,” he said.