Sri lanka News – Sri Lanka’s Chinese-built Lotus Tower earned 1.6 million rupees on the first day of operations, an official said.
On September 15, opening day, only tickets retailing at 500 rupees were issued and during its opening hours between 2PM and 10PM, the tower had seen 3,200 visitors, Financial Consultant of Colombo Lotus Tower (Pvt) Ltc Minhar Aziz told EconomyNext on Friday September 16.
The first day’s turnover has been to the satisfaction of all stakeholders as minimum advertising and marketing was done in the run-up to the launch, said Aziz. However, there was very little to offer on the day of the launch due to only the observation deck and the revolving restaurant being open to visitors for just 30 minutes total. But revenues earned have been satisfactory regardless, he said.
Aziz said the company has set a total revenue target of 1.1 billion rupees by 2024. It anticipates expenditure up to 850 million rupees with profits projected at 250 million rupees by that year.
“Amid the controversies around the tower, all functions and entities to enter the project will be privately owned. [Questions like who built the tower] has never crossed our minds. It’s built and established now and we can’t leave it idle. It should rather be generating income,” he said.
The tower, the tallest structure in south Asia, is to be open for luxury retailing, communication, events and functions and serve as a main attraction for tourism once fully operational. Tenders have been called for the revolving restaurant and other facilities with approval likely to take two to three months.
For purposes of crowd control, the tower only permits sightseers to be in the area for a period of 20 minutes, said Aziz.
Sri Lanka’s Chinese-built Lotus Tower on the lookout for bids for revolving restaurant