Jetwing Symphony

Jetwing Symphony PLC is a hotel chain in Sri Lanka. The company was incorporated in 2007. Following an oversubscribed Initial Public Offering in December 2017, the company started publicly trading on the Colombo Stock Exchange in January 2018. Jetwing Symphony is the holding company of the Jetwing Group's new hotels. As of 2022, Jetwing Symphony manages seven properties across the country.

Jetwing Symphony PLC
TypePublic
CSE: JETS.N0000
ISINLK0455N00002
IndustryHospitality
Founded2007 (2007)
Headquarters
Colombo
,
Sri Lanka
Key people
RevenueIncrease LKR2.116 billion (2023)
Increase LKR467 million (2023)
Increase LKR(632) million (2023)
Total assetsDecrease LKR10.422 billion (2023)
Total equityDecrease LKR3.321 billion (2023)
Owners
  • Jetwing Travels (19.32%)
  • R.O.K. International Holdings (15.10%)
  • Blue Oceanic Beach Hotel (13.64%)
Websitewww.jetwingsymphony.com
Footnotes / references
[1]

History

The company was incorporated in 2007 as Jetwing Airport Hotel Pvt Ltd. The name was changed to Jetwing Symphony in November 2011 and changed its legal status to a limited company in the following month.[2] Jetwing Symphony announced its initial public offering (IPO) in 2017. The company offered 10% of its stake and hoped to raise LKR750-900 million. The company planned to employ the capital to build Jetwing Kandy Gallery and settle the debts of some of its properties.[3] IPO which opened on 14 December was oversubscribed.[4] Jetwing Symphony made its debut trading on the Colombo Stock Exchange in January 2018 following its IPO.[5]

Operations

Jetwing Symphony posted a profit for the first time in March 2019 after going public. The company acts as the holding company for the new hotel of the Jetwing Group.[6] The company suffered from 2019 Sri Lanka Easter bombings, as the attacks affected the tourism in Sri Lanka.[7]

Properties

Jetwing Symphony manages seven properties across Sri Lanka. Jetwing Yala is situated near the Palatupana entrance of the Yala National Park.[8] Jetwing Kaduruketha is one of the first eco-resorts in Sri Lanka.[9] Jetwing Colombo Seven was opened in February 2017.[10] The newest property of the Jetwing Symphony, Jetwing Kandy Gallery was opened in January 2020. The hotel consists of 26 rooms.[11]

HotelLocationNo. of rooms
Jetwing Colombo Seven Colombo 98
Jetwing Kaduruketha Wellawaya 25
Jetwing Kandy Gallery Kandy 26
Jetwing Lake Dambulla 94
Jetwing Safari Camp Yala 10
Jetwing Surf Pottuvil 20
Jetwing Yala Yala 80

See also

References
  1. "Annual Report 2022/23" (PDF). cse.lk. Jetwing Symphony PLC. Retrieved 8 June 2023.
  2. "Prospectus" (PDF). jetwingsymphony.com. Jetwing Symphony. p. 8. Retrieved 2 December 2022.
  3. "Jetwing Symphony – The Investment Arm of Jetwing Hotels Announces Rs. 750-900 Mn Initial Public Offering". adaderana.lk. Ada Derana. 7 December 2017. Retrieved 2 December 2022.
  4. "Jetwing Symphony IPO oversubscribed". Daily News. Associated Newspapers of Ceylon Limited. 18 December 2017. Retrieved 2 December 2022.
  5. "CSE's 2018 debutant Jetwing Symphony to trade today". ft.lk. Wijeya Newspapers. 5 January 2018. Retrieved 2 December 2022.
  6. "Sri Lanka's Jetwing Symphony posts profits for first time in March". Economy Next. Echelon Media (Pvt) Ltd. 13 May 2019. Retrieved 2 December 2022.
  7. "Sri Lanka's Jetwing Symphony June losses grow with Easter Sunday hit". Economy Next. Echelon Media (Pvt) Ltd. 13 August 2019. Retrieved 2 December 2022.
  8. Boyle, Emma. "Jetwing Yala". telegraph.co.uk. Telegraph Media Group. Retrieved 2 December 2022.
  9. Illankoon, Panchali (2 November 2017). "Exploring Wellawaya with Jetwing Kaduruketha". Life Online. Wijeya Newspapers. Retrieved 2 December 2022.
  10. "The Pinnacle of Colombo Seven". Daily News. Associated Newspapers of Ceylon Limited. 17 February 2017. Retrieved 2 December 2022.
  11. "'Jetwing Kandy Gallery' to open in January". adaderana.lk. Ada Derana. 4 November 2019. Retrieved 2 December 2022.
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