The Hotels Association of Sri Lanka (THASL) and the Colombo City Hotels Association (CCHA) yesterday welcomed the extension of the debt moratorium for a further six months by the Government and the Central Bank.
“This is a big relief given the precarious situation in which the industry is in,” THASL President Sanath Ukwatte said, adding: “We thank the Government and the Central Bank.”
CCHA President Shanthikumar said the extension of the debt moratorium was a big help for the hotels which have seen revenues tumble as a result of COVID-19 pandemic. “Additional period for the debt moratorium will help ease off the pressure the industry is going through,” Shanthikumar added.
Originally, the industry has been making a strong case for the extension of debt moratorium till the end of 2021 given the twin shocks of Easter Sunday terror attacks followed by the COVID-19 pandemic which has resulted in zero tourists since May.