Bengal Group of Industries is making a foray into the hospitality business with a five-star hotel in Dhaka to be managed by upmarket Swiss hotel chain Swissôtel Hotels and Resorts.

 To be called Swissôtel Dhaka, the property will be located in Niketan, close to the bustling business centre of Gulshan.

The construction will begin in December this year, with plans to open the door to guests in 2018, said Md Jashim Uddin, vice-chairman of Bengal Group. 

Although there are international hotel chains in the country, there is a gap in quality and the Swissôtel Dhaka is looking to bridge that, he told The Daily Star yesterday.

Besides, there will be a need for lots of business hotels in the near future, when Bangladesh joins the middle-income group, he said.

The hotel will feature 375 guest rooms and suites, six restaurants and bars, ballroom, as well as a spa with a swimming pool and other recreational amenities.

Headquartered in Zurich, Swissôtel Hotels and Resorts is an award-winning group of deluxe hotels that combines Swiss hospitality with contemporary design, personalised service and efficiency.

The chain is owned by FRHI Holdings Ltd, a leading global hotel company with 102 hotels and resorts worldwide under the brand names of Raffles, Fairmont and Swissôtel.

In a statement, Meinhard Huck, president of Swissôtel Hotels and Resorts, said: “Dhaka is experiencing sustainable growth, particularly in the financial and textile manufacturing sectors, but also in telecommunications and service industries, which has resulted in a strong demand for high-quality hotel accommodation.”

The hotel will be developed by Bengal Group on its own land at a cost of Tk 600 crore, according to Jashim Uddin, a business leader.

Bengal Group on Tuesday signed a deal with Mutual Trust Bank granting it the mandate to raise $50 million (about Tk 400 crore) for the hotel.

The fund will be raised from different multilateral organisations and other lenders, said Anis A Khan, managing director of Mutual Trust Bank.

Set up in 1969, Bengal Group is the world's largest manufacturer of coat hangers, producing more than two million hangers a day.

Its clothing division supplies mainly denim products to clients such as Walmart, Sainsbury, The Children Place, VP Corp and others.

Over the years, it has diversified its interests to plastic, textiles, renewable energy, food, media, real estate and the financial sector.

With the hotel, Swissôtel will make its foray into Bangladesh's hospitality landscape that saw entries of a number of international chains in recent years.

Marriott International, the US luxury hotel chain, is set to open three hotels: two in Dhaka and one in Chittagong.

Le Méridien, a brand of the Starwood Hotels and Resorts Worldwide, has already opened its door.

Other global brands such as Sofitel Hotel, Hilton Hotel and Thailand-based ONYX Hospitality Group signed separate agreements with their local partners in recent years to build luxury hotels in the country.

[email protected]