Fortress Resort and Spa marks successful year with Rs. 119 m profit

Tuesday, 17 July 2012 00:00 - - {{hitsCtrl.values.hits}}

The Fortress Resort and Spa announced the successful completion of FY 2011/2012, with stellar financial results in all areas including profits, asset base and shareholder equity. Occupancy rates for the resort in Koggala were high throughout the season as the high-end,

colonial architecture-inspired Fortress continues to carve out a niche for itself in the Sri Lankan tourism scene while cementing its position on the global tourism map.

Turnover rose by 11.53% from Rs. 416 million recorded as at 31 March 2011, to stand at Rs. 464 million as at 31 March 2012. Profits Before Tax (Pre Tax Profits) rose 38.6% from the Rs. 86 million recorded at the end of the previous financial year to Rs. 119.2 million at the conclusion of the year under review. With its prudent investment portfolio, the company’s asset base grew by 4% from the previous year’s figures of Rs. 1.186 billion to Rs. 1.233 billion at the end of the recently-concluded financial year.

“The Fortress has become an icon in the boutique hotel sphere,” stated Managing Director Sumith Adhihetty, “While its architectural singularity plays as important role in this, the true value-addition has come from the high service standards we have maintained in every area of operation.” He goes on to state that an average 66% occupancy rate was maintained throughout the financial year 2011/2012, further stating that the resort enjoyed a staggering average occupancy rate of 95% during the latter part of the financial year. “A 95% occupancy rate is no mean feat for a high-end resort of the calibre of The Fortress,” opines Adhihetty.

Since its inception, the resort has been a regular contender in international awards ceremonies, continuously emerging triumphant. Its most recent achievement at the Asia Pacific Hotel Awards 2012 held in Malaysia included awards for Best Resort Hotels in the Asia Pacific Region, Best Resort Hotel in Sri Lanka and the Best Resort in the Small Hotels in Sri Lanka category. Rooms recently rose from 49 to 53 and the five-star accommodation received another value addition with the introduction of the sumptuous ‘Beach Splash’ rooms, each fitted with its own plunge pool and decadent day bed. The dining experience too has been awarded a facelift with the resort’s fine dining restaurant Wine 3 being re-branded as Duo (Surf and Turf), a fine dining experience that has easily lured weekend pleasure-seekers to make the one hour drive down the Southern Expressway to The Fortress.

Speaking on success and its external contributors, Chairman Dhammika Perera applauds the sound economic climate Sri Lankan currently enjoys stating, “As a boutique hotel, we are certainly enjoying a coveted position in the South Asia region. The Sri Lankan economic landscape has played a vital role in this-the welcome upgrading of infrastructure in particular has played a crucial role in attracting high-end, exclusive clientele to the pearl of the Indian ocean.”

The Fortress is the luxury tourism arm of the powerful Vallibel Group of companies, headed by visionary entrepreneur Perera. A cluster of the most prominent names in the corporate sector including LB Finance, Vallibel Finance, Vallibel Power Erathna, Royal Ceramics and Delmege Forsyth and Co are part of the dominant holding company.