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» EAST WEST PROPERTIES PLC (EAST.N0000)
Sri Lanka hotel room price controls not removed: Minister EmptyToday at 11:51 am by yellow knife

» HASU.N0000 (HNB ASSURANCE PLC)
Sri Lanka hotel room price controls not removed: Minister EmptyToday at 10:32 am by yellow knife

» LLUB.N0000 (CHEVRON LUBRICANTS LANKA PLC)
Sri Lanka hotel room price controls not removed: Minister EmptyYesterday at 8:09 pm by PANTOMATH

» අසිරිමත් සුබ නව වසරකට ආසිරි !
Sri Lanka hotel room price controls not removed: Minister EmptyYesterday at 6:33 pm by hammurabi

» Thread for News on CSE and SL Economy
Sri Lanka hotel room price controls not removed: Minister EmptyTue Apr 16, 2019 6:52 pm by NIRMALSG

» Dividend Announcement
Sri Lanka hotel room price controls not removed: Minister EmptySat Apr 13, 2019 10:53 pm by nihal123

» SEYLAN DEVELOPMENTS PLC (CSD.N0000)
Sri Lanka hotel room price controls not removed: Minister EmptyFri Apr 12, 2019 8:55 am by yellow knife

» East West properties
Sri Lanka hotel room price controls not removed: Minister EmptyFri Apr 12, 2019 5:27 am by dhanurrox

» HHL.N0000 ( Hemas Holdings PLC)
Sri Lanka hotel room price controls not removed: Minister EmptyTue Apr 09, 2019 8:04 pm by NIRMALSG

» Thread for News on Local and Foreign Politics
Sri Lanka hotel room price controls not removed: Minister EmptyTue Apr 09, 2019 11:25 am by Ethical Trader

» අනං මනං! #/+?.<>
Sri Lanka hotel room price controls not removed: Minister EmptyMon Apr 08, 2019 7:23 pm by ruwan326

» DFCC.N0000 ( DFCC BANK PLC )
Sri Lanka hotel room price controls not removed: Minister EmptyMon Apr 08, 2019 6:07 pm by NIRMALSG

» කිරි පිටි ගැන ඔබ මෙතෙක් නොදත් දේ
Sri Lanka hotel room price controls not removed: Minister EmptyMon Apr 08, 2019 5:31 am by Ethical Trader

» CONN.N0000
Sri Lanka hotel room price controls not removed: Minister EmptySun Apr 07, 2019 3:15 pm by NIRMALSG

» LION.N0000 (Lion Brewery Ceylon PLC)
Sri Lanka hotel room price controls not removed: Minister EmptySun Apr 07, 2019 8:52 am by ruwan326

»  5000 Post Milestone - Congratulations
Sri Lanka hotel room price controls not removed: Minister EmptyFri Apr 05, 2019 9:07 pm by Ethical Trader

» NTB.N0000 (NATIONS TRUST BANK PLC)
Sri Lanka hotel room price controls not removed: Minister EmptyFri Apr 05, 2019 1:37 pm by Ethical Trader

» හීන්බන්ඩාගේ රැකියාව ඇසූ පසු පොලිස් නෝනලාට තරු පෙනුනා
Sri Lanka hotel room price controls not removed: Minister EmptyFri Apr 05, 2019 12:36 pm by Ethical Trader

» Micro Finance
Sri Lanka hotel room price controls not removed: Minister EmptyFri Apr 05, 2019 12:14 pm by yellow knife

» REXP.N0000 ( RICHARD PIERIS EXPORTS PLC)
Sri Lanka hotel room price controls not removed: Minister EmptyFri Apr 05, 2019 7:40 am by serene

» COMB.N0000 ( COMMERCIAL BANK OF CEYLON PLC )
Sri Lanka hotel room price controls not removed: Minister EmptyThu Apr 04, 2019 6:53 pm by NIRMALSG

» PLC.N0000 ( People's Leasing and Fiance PLC)
Sri Lanka hotel room price controls not removed: Minister EmptyWed Apr 03, 2019 6:04 pm by NIRMALSG

» VPEL.N0000 (VALLIBEL POWER ERATHNA PLC )
Sri Lanka hotel room price controls not removed: Minister EmptyWed Apr 03, 2019 3:40 pm by catseye

» SAMP.N0000 (SAMPATH BANK PLC)
Sri Lanka hotel room price controls not removed: Minister EmptyTue Apr 02, 2019 12:38 pm by malanp

» Sinhala Cinema
Sri Lanka hotel room price controls not removed: Minister EmptyTue Apr 02, 2019 12:31 pm by yellow knife

» SEYB.N0000 ( SEYLAN BANK PLC )
Sri Lanka hotel room price controls not removed: Minister EmptyTue Apr 02, 2019 11:23 am by Backstage

» LIOC.N0000 (Lanka IOC PLC)
Sri Lanka hotel room price controls not removed: Minister EmptyTue Apr 02, 2019 11:15 am by LSE

» NDB.N0000 (NATIONAL DEVELOPMENT BANK PLC)
Sri Lanka hotel room price controls not removed: Minister EmptyTue Apr 02, 2019 11:11 am by Backstage

» Plantation sector updates
Sri Lanka hotel room price controls not removed: Minister EmptyMon Apr 01, 2019 2:13 pm by nihal123

» What to Analyse
Sri Lanka hotel room price controls not removed: Minister EmptyMon Apr 01, 2019 8:00 am by yellow knife

» MTD WALKERS - KAPI
Sri Lanka hotel room price controls not removed: Minister EmptyMon Apr 01, 2019 5:01 am by NIRMALSG

» VONE.N0000 (VALLIBEL ONE PLC)
Sri Lanka hotel room price controls not removed: Minister EmptySun Mar 31, 2019 6:09 pm by lanka

» In the Meantime, Within Our Shores !
Sri Lanka hotel room price controls not removed: Minister EmptySun Mar 31, 2019 11:22 am by කිත්සිරි ද සිල්වා

» PB. N0000 (People's Bank)
Sri Lanka hotel room price controls not removed: Minister EmptyFri Mar 29, 2019 5:33 pm by yellow knife

» Obituary Notice.
Sri Lanka hotel room price controls not removed: Minister EmptyFri Mar 29, 2019 5:07 pm by කිත්සිරි ද සිල්වා

» Happy Birthday
Sri Lanka hotel room price controls not removed: Minister EmptyFri Mar 29, 2019 9:58 am by Backstage

» Re: Financial reports Q1-2019
Sri Lanka hotel room price controls not removed: Minister EmptyFri Mar 29, 2019 7:45 am by serene

» Save Wilpattu !
Sri Lanka hotel room price controls not removed: Minister EmptyThu Mar 28, 2019 1:58 pm by puliyanam

» Help him Today, so he can help another Tomorrow
Sri Lanka hotel room price controls not removed: Minister EmptyThu Mar 28, 2019 7:49 am by serene

» HNB.N0000 ( Hatton National Bank PLC)
Sri Lanka hotel room price controls not removed: Minister EmptyTue Mar 26, 2019 6:18 am by pjrngroup

» අපිට විතරද පායන්නේ ?
Sri Lanka hotel room price controls not removed: Minister EmptyMon Mar 25, 2019 9:06 pm by malanp

» Tourism sector
Sri Lanka hotel room price controls not removed: Minister EmptyMon Mar 25, 2019 5:47 pm by NIRMALSG

» Oman's Oil and Gas Minister Dr. Al Ruhmy arrives in Lanka.
Sri Lanka hotel room price controls not removed: Minister EmptySun Mar 24, 2019 12:11 pm by Ethical Trader

» රෝගීන් වෙනුවෙන් කැප වන සෞඛ්‍ය සේවාවක් වෙනුවෙන්.....
Sri Lanka hotel room price controls not removed: Minister EmptyTue Mar 19, 2019 9:34 am by AjithR

» JEWS OF SRI LANKA: AN UNTOLD STORY
Sri Lanka hotel room price controls not removed: Minister EmptyTue Mar 19, 2019 9:22 am by කිත්සිරි ද සිල්වා

» How Small We are in the universe
Sri Lanka hotel room price controls not removed: Minister EmptyTue Mar 19, 2019 7:29 am by nihal123

» ඉස්සරහට අපි පරදින එකනම් ෂුවර් – ධම්මික ක්‍රිකට් ගැන කතා කරයි
Sri Lanka hotel room price controls not removed: Minister EmptyFri Mar 15, 2019 2:59 pm by nuwanmja

» HAYL.N0000 Hayleys PLC
Sri Lanka hotel room price controls not removed: Minister EmptyThu Mar 14, 2019 2:46 pm by yellow knife

» DOCK.N0000 (COLOMBO DOCKYARD PLC)
Sri Lanka hotel room price controls not removed: Minister EmptySun Mar 10, 2019 8:36 pm by NIRMALSG

» GLAS.N0000 (PIRAMAL GLASS CEYLON PLC)
Sri Lanka hotel room price controls not removed: Minister EmptySun Mar 10, 2019 6:40 am by ruwan326

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Sri Lanka hotel room price controls not removed: Minister

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Sri Lanka hotel room price controls not removed: Minister Empty Sri Lanka hotel room price controls not removed: Minister

Post by The Invisible on Mon Aug 20, 2018 10:39 am

ECONOMYNEXT - Sri Lanka's price floor on graded hotels has not yet been removed, tourism Minister John Amaratunga said amid reports that the price controls had been lifted.

"I have not removed it. The regulation is still in place," Amaratunga said Friday.

State-run Daily News reported Sri Lanka Tourism Authority Chairman Kavan Ratnayake as saying that the minimum room rates would be removed to allow market forces to decide room rates in Colombo.

The removal was temporary and would be re-activated if necessary, he was quoted as saying.

The minimum rate for 5-star hotels in 125 US dollars, while the rate is 95 US dollars for 4-star hotels and 75 US dollars for 3-star hotels.

Two and one star hotels also have minimum rates. However, a guest has to pay more, as indirect taxes are added to the minimum price.

The price controls were brought during the Rajapaksa regime reportedly following pressure from a politically powerful special interests lobby led by four-star hotel owners in Colombo, according to those familiar with the matter.

Since 2015, authorities have said controls would be abolished, culminating with an official communique in 2016 which said that they would be removed by March 2017.

However, on each occasion, the lobby had persuaded authorities to keep the minimum room rate.

Minister Amaratunga had last said that the March 2017 deadline has been delayed by 2 years.

Some of the bigger hotel chains are in favour of removing the price controls.

Some industry analysts say removing the price control would make Colombo a more attractive destination for the (Meetings, Incentives, Conventions and Exhibitions) competing with East Asian destinations like Kuala Lumpur.

Lifting the price controls will also allow hotels to flexibly price rooms especially in the off-season and respond to market forces and bring more tourists to Sri Lanka, raising occupancy.

Tourists on average spend around 170 dollars a day in the country and the price control lobby by robbing the freedom of other hotels to price may be hurting the entire country by trying to get 10 or 15 dollars extra for their rooms, critics say.

Tourists who feel Colombo is overpriced compared to other cities have the option of cutting their stay in the capital to the minimum and going to another city quickly, staying in alternative accommodation not regulated by the Tourism Authority or going to East Asia where there are no price controls.

"The existing regulation is working, and there’s nothing to say that it requires removal," Amaratunga said Friday.

However, he said that the government is negotiating with airlines and hotels to offer off-season budget packages for potential tourists. (Colombo/Aug17/2018)
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Post by nihal123 on Mon Aug 20, 2018 11:06 am

Thanks Inv
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Post by කිත්සිරි ද සිල්වා on Mon Aug 20, 2018 11:10 am

SL hotel rates are very high compared to the regional ones. This does not only apply to graded hotels.

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Post by Ethical Trader on Mon Aug 20, 2018 5:46 pm

Thanks.
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