Report Structure
Our Annual Report for 2013/14 adopts a significantly different format to that of the previous year. In your hands is our first integrated Annual report. Its advantage over the previous format is that it allows the Company to communicate more effectively and concisely the interactions and interdependence of the many aspects of our business - such as strategy, governance, performance and prospects - in the context of creating value over time.
In order that we may balance the twin considerations of brevity and completeness we have made use of multiple media. The print version of the integrated report thus provides cross references to additional details that may be accessed by scanning the QR code found on relevant pages, while one may also visit our interactive online report for a more comprehensive account. (http://thelighthousehotelplc2013-14.annualreports.lk)
Value Creation and Capital Formation
Although our Annual Report 2012/13 included a Sustainability Report, commencing this year, we have seamlessly integrated financial reporting and sustainability reporting to better describe the duality of our purpose, namely, deriving and delivering value that leads to internal and external capital formation. Our internal capital formation is a result of value created by The Lighthouse Hotel PLC for The Lighthouse Hotel PLC and comprises financial capital and institutional capital. Our external capital formation is a result of financial and non-financial value created by The Lighthouse Hotel PLC for its stakeholders. Both aspects are relevant as the ability of The Lighthouse Hotel PLC to create value for itself is linked to the value it creates for others. These concepts are discussed in greater detail on The Duality in Value Creation page.
In preparing this report we have drawn on concepts, principles and guidance given in the
Global Reporting Initiative (GRI) Sustainability Reporting Guidelines G3.1 (2011) [www.globalreporting.org]
International Integrated Reporting Framework (2013) and the [www.theiirc.org]
Smart Integrated Reporting MethodologyTM
Report Boundary
The Lighthouse Hotel PLC does not have any subsidiaries or associates. Hence, the material contained in this report pertains solely to properties of The Lighthouse Hotel PLC. However, non-financial information included, are only for owned properties of The Lighthouse Hotel PLC. In arriving at the materiality of content, we have been guided by topics such as areas of business focus, geographical spread and profiles of stakeholders, among others.
An important consideration to be noted is that since Jetwing Lighthouse is an entity operating within the Jetwing Brand, many of its practices and processes and its statutory orientation conforms to standard practices observed across the Jetwing Family of Hotels. This explains why the reader will find phraseology such as ‘Jetwing Family of Hotels’; ‘Jetwing Hotels’; ‘associates’ and the like interspersed in our narrative.
Our reporting period is 1st April, 2013 to 31st March, 2014 and we maintain an annual cycle of reporting.
Contact
We welcome your comments, queries and suggestions. Please channel these to:
Group Accountant,
Jetwing Hotels Ltd.,
Jetwing House, 46/26, Nawam Mawatha,
Colombo 02.
Tel: +94 11 234 5700 Ext. 1315 or 2259
E-mail: accounts@jetwinghotels.com