Tropical Paradise Makes Striking Comeback: Records Rs 940M in Revenue

Tropical Paradise Co Ltd, the owner and operator of Labourdonnais Waterfront, Le Suffren, and Hennessy Park hotels, reported a turnover of Rs 940.15 million for the financial year ending June 30, 2023, compared to Rs 548.77 million the previous year.

However, the group incurred losses of Rs 11.75 million as of June 2023, a significant improvement from the Rs 113.63 million losses recorded in June 2022.

The group achieved pre-tax profitability of Rs 51.23 million, marking its first return to profitability since the pandemic, despite a slow recovery in business travel.

The F&B sector exceeded expectations, while overall results were impacted by substantial repair and maintenance work.