Top global hotel chains keen to operate Dhaka Sheraton
Monday, 17 March 2008
Naim-Ul-Karim
At least four five-star hotel chains with presence all over the world have shown interest to manage the state-owned Dhaka Sheraton Hotel, officials said Sunday.
Famous hotel chains including Hyatt Regency of USA, Novotel of France and Marriott and Shangri-La Hotels and Resorts have contacted Bangladesh Services Limited (BSL), the owner of the hotel, to take over its operation, they said.
Their interest came as the Starwood Hotels and Resorts Worldwide's 25-year agreement with the BSL to manage and operate Dhaka Sheraton is set to expire by December this year.
The state-controlled Bangladesh Services Limited (BSL) has already hinted that it would not renew the deal with Starwood and float tender by October this year for hiring a new management.
BSL officials said Starwood is also reluctant to renew the agreement, as it has already signed a management deal with Noor Ali-owned Westin Hotel at Gulshan.
Dhaka Sheraton Hotel, situated in the heart of city, just three kilometers from the downtown business district and close to Dhaka's famous Ramna Park and the Prime Minister's office, is the first international five-star hotel in Bangladesh.
"At least four top hotel chains including Hyatt, Marriott, Novotel and Shangri-La have contacted us for taking over the management of Dhaka Sheraton," a BSL official said.
"The BSL may prepare a short list of interested parties to hold informal discussion with them by October," he said, adding that BSL will float international bid to appoint new operators for the hotel.
Sinthia Siraj, assistant director of the Dhaka Sheraton Hotel, said, "BSL told us that it would make a final decision on whether to continue deal with Starwood by October this year."
She said representatives of the Starwood Hotels already held meeting with the BSL to discuss the issue.
The United States-based Starwood was assigned to operate Dhaka Sheraton in 1984 for a twenty-year period. It renewed the deal for a further five years till December this year.
Prior to Starwood, another US-based Hotel Intercontinental, managed the hotel, then known as Dhaka Intercontinental, between 1966 and 1983.
Dhaka Sheraton Hotel's revenue grew six per cent to US$11.27 million in 2007, with an operating profit of $4.16 million and a market share of 27.5 per cent.
At least four five-star hotel chains with presence all over the world have shown interest to manage the state-owned Dhaka Sheraton Hotel, officials said Sunday.
Famous hotel chains including Hyatt Regency of USA, Novotel of France and Marriott and Shangri-La Hotels and Resorts have contacted Bangladesh Services Limited (BSL), the owner of the hotel, to take over its operation, they said.
Their interest came as the Starwood Hotels and Resorts Worldwide's 25-year agreement with the BSL to manage and operate Dhaka Sheraton is set to expire by December this year.
The state-controlled Bangladesh Services Limited (BSL) has already hinted that it would not renew the deal with Starwood and float tender by October this year for hiring a new management.
BSL officials said Starwood is also reluctant to renew the agreement, as it has already signed a management deal with Noor Ali-owned Westin Hotel at Gulshan.
Dhaka Sheraton Hotel, situated in the heart of city, just three kilometers from the downtown business district and close to Dhaka's famous Ramna Park and the Prime Minister's office, is the first international five-star hotel in Bangladesh.
"At least four top hotel chains including Hyatt, Marriott, Novotel and Shangri-La have contacted us for taking over the management of Dhaka Sheraton," a BSL official said.
"The BSL may prepare a short list of interested parties to hold informal discussion with them by October," he said, adding that BSL will float international bid to appoint new operators for the hotel.
Sinthia Siraj, assistant director of the Dhaka Sheraton Hotel, said, "BSL told us that it would make a final decision on whether to continue deal with Starwood by October this year."
She said representatives of the Starwood Hotels already held meeting with the BSL to discuss the issue.
The United States-based Starwood was assigned to operate Dhaka Sheraton in 1984 for a twenty-year period. It renewed the deal for a further five years till December this year.
Prior to Starwood, another US-based Hotel Intercontinental, managed the hotel, then known as Dhaka Intercontinental, between 1966 and 1983.
Dhaka Sheraton Hotel's revenue grew six per cent to US$11.27 million in 2007, with an operating profit of $4.16 million and a market share of 27.5 per cent.