Bangladesh developer seeks hotel management partner
ASCOTT Properties is on the lookout for investors and a hotel management company for its latest project, a city hotel in Bangladeshi capital, Dhaka.
Ascott managing director Mosharraf Hossain said the company had acquired a plot of land in Banani, a diplomatic zone in Dhaka and wants to build a luxury hotel with more than 200 keys.
"Dhaka is booming commercially and the city has several top hotel brands such as Westin and Sheraton. To compete well, we will need to have an international quality hotel. It is easy to build hotels, but tough to run it," Hossain said.
Bangladesh-based Ascott Properties has a serviced residence and residential apartments in Dhaka, and plans to develop hotels in Chittagong, another commercial hub in the country, and Cox's Bazar, a popular beach resort destination.
(Sources: Karen Yue, Singapore, TTGAsia)
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