- A Monitor Report
16 May, 2018  |
: Bangladesh capital is set to welcome half a dozen new upscale hotels bearing the name of reputed chains over the next couple of years, brought about by the growing influx of business travellers to the country.
Bengal Group of Industries is constructing a 370-room hotel in the city's Niketan area for about Tk 600 crore. The property will be managed by Swiss hotel chain Swissôtel Hotels and Resorts.
New business opportunities have come up for construction of large infrastructure projects such as the Padma Bridge, Rooppur Nuclear Power Plant, Metro Rail and LNG terminals.
Simultaneously, the flow of business travellers related to the export-oriented garment industry is set to get bigger as the apparel makers chase an export target of US$50 billion in 2021.
The new hotels are expected to bring forth investment of about Tk 5,400 crore.
Marium Group is establishing a 200-room hotel in Tejgaon area for about Tk 1,500 crore. The property will be christened the Holiday Inn City Centre and is expected to open its doors to guests by the end of this year.
Jamuna Group has struck a deal with Marriott International, the US luxury hospitality chain, to set up the 700-room JW Marriott Dhaka. The hotel will be located at Jamuna Future Park in Progoti Sarani.
Premier Group is building JW Marriott's sister brand Courtyard by Marriot in the city's Gulshan area. Unique Group, the parent company of The Westin Dhaka, is establishing Sheraton in Banani, while Lakeshore Hotels has teamed up with Thai hospitality group Dusit International to set up business hotel Dusit Princess in Uttara for Tk 150 crore.
Once all the under-construction properties become operational, the total supply of upscale hotel rooms in will more than double to 3,000 from existing 1,250, according to industry operators.
At present, six international hotel chains are in Dhaka: Marriott International's brands The Westin and Le Meridien, Radisson Blu Water Garden Dhaka, Pan Pacific Sonargaon Dhaka, Four Points by Sheraton and Amari Dhaka.
About 3.1 million visited Bangladesh in the last six years and the average occupancy rate in the upscale hotels in is 60-70 per cent, according to Syed Mehran Hussain, Manager Marketing, Four Points by Sheraton, which began operations last year.