Bangladesh capital, Dhaka is set to welcome half a dozen new upscale international hotel chains over the next couple of years, brought about by the growing influx of business travellers to Bangladesh.
Bengal Group of Industries, is constructing a 370-room hotel in the capital's Niketan area for about BDT 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 $50 billion in 2021.
The new hotels are expected to bring forth investment of about BDT 5,400 crore.
Marium Group is establishing a 200-room hotel in Tejgaon area for about BDT 1,500 crore. The property will be christened the Holiday Inn Dhaka 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 American 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 capital's Gulshan area. Unique Group, the parent company of Westin Dhaka, is establishing Sheraton Dhaka in Banani, while Lakeshore Hotels has teamed up with Thai hospitality group Dusit International to set up a business hotel in Uttara for BDT 150 crore.
Once all the under-construction properties become operational, the total supply of upscale hotel rooms in Dhaka 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 Westin and Le Meridien, Radisson, Pan Pacific Sonargaon, Four Points by Sheraton and Amari.
About 3.1 million visited Bangladesh in the last six years and the average occupancy rate in the upscale hotels in Dhaka is 60-70 percent, according to Syed Mehran Hussain, manager marketing of Four Points by Sheraton, which began operations last year.