Sri Lanka was still recovering from the Easter attacks in 2019 when the COVID-19 pandemic struck in early-2020. Being highly dependent on international tourists, the island nation faced a sharp decline in demand as airports remained shut to leisure and business tourists to curb the spread of COVID-19. Meanwhile, the Government has provided the required impetus to the industry by extending the debt moratorium period by an additional six months until March 2021, giving industry stakeholders the much needed support to tide through the crisis.
In this short guide covering Colombo, we look back at the health of the tourism and hospitality sectors prior to COVID-19; assess the impact of the global pandemic; evaluate the recovery path as lockdown restrictions gradually ease; provide recommendations on cost saving measures to prepare hoteliers for the market rebound, as well as an outlook of the hotel investment landscape as the market continues to recover.
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