Radisson Water Garden Hotel, one of the country’s five-star hotels, plans to go public through book building method to build another unit of it in Chittagong, officials said Monday.
The eight-storey hotel will be the third hotel to list with the stock exchanges once it gets clearance from the Securities and Exchange Commission (SEC).
“We are in talks with the hotel authorities about its listing,” Md Abdur Rouf, chief executive officer of ICB Capital Management Limited told the FE.
“What portion of it will be sold to the public is yet to be determined but it is expected to finalise all the formalities within the next two months,” he said.
Owned by Sena Hotel Developments Limited (SHDL), the hotel, the most profitable five-star hotel in Bangladesh, makes up a 40 per cent share of the total market.
Sprawling over seven acres of manicured grounds and
gardens, it is located on Airport Road and adjacent to the diplomatic enclave. The hotel offers a wide array of exquisite cuisine served in beautiful surroundings.
The SHDL’s first venture was Radisson Water Garden Hotel that was inaugurated in February 2006. The SHDL, formed in 1995, is a joint venture of Sena Kalyan Sangstha and Army Welfare Trust.
Radisson, the flagship brand of US-based international chain, Carlson Hotels Worldwide, manages and operates the hotel.
