Development Capital Required For New Four-Star Branded Hotel Chain in Bangladesh
Location: Sylhet, North East Bangladesh
Name: Sylhet Hotel Group
Guide Price: Initial investment required – £20m
No. of Keys: 150 – 200
The Opportunity:
Start-up business Sylhet Hotel Group is looking for partners to finance construction of a chain of four-star branded hotels in parts of Bangladesh starting with Sylhet – the scenic heart of imperial era British tea gardens, for maximum returns and occupancy. The country has a booming middle class with total population of 170m and is one of the fastest growing economies in the world with 6-7%+ GDP growth rate plus rising GDP per capita.
They start with land owned by the company in Sylhet, located on the north bank of the Surma River, at the eastern tip of Bengal. The city is served by Osmani International Airport, just 8km from the city centre and is around 240 km from Dhaka. Besides upto 200 rooms they are looking to provide tennis courts, rooftop swimming pool, heliport for both ease of access as well helicopter trips to Sundarbans to see Royal Bengal Tigers and to the tea gardens and waterfalls in Jaflong.
The location is ripe for domestic tourism and international leisure travel. A major gloabl brand has shown interest on this project. Several global hotel brands have already entered Bangladesh including Marriott (Westin and Four Points Sheraton), InterContinental Dhaka, Radisson Blu, Pan Pacific and Ascott Intl, to name a few.
The government is encouraging foreign investment offering tax holidays and profit repatriation. Sylhet is expanding the international airport which has flights from UK, and there isn’t a single 4 or 5 star global brand in the city. Target is to Raise £20M.
Flag & Management: Open to investor
Current Owner: Private family
Main Photo: The newly opened Holiday Inn Dhaka City Centre…the standard which Sylhet aspires to
Financials: Business plan available…a work in progress
Tenure: Freehold
Agent: THPT retained by land-owner
Date Posted: May 2022
THPT Comment: Bangladesh keen to attract Western/Global hotel groups into the country with inward financial incentives.
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