Hotel Intercontinental in Shahbag, Dhaka began operations in 1973. This is the oldest five star hotel in the country. InterContinental Hotel was once synonymous with five-star hotels in the capital. Then Pan Pacific came to Sonargaon in the 1980s. After 2000, through private initiative, five-star quality hotels started being built one by one in Gulshan and around the airport.
Intercontinental had earned revenue of Tk 1.69 billion in 2022-23. The Westin Hotel, which was established in Gulshan-2 in 2000, earned Tk 2.03 billion. Le Meridien Hotel in Nikunja area near the airport did a turnover of more than Taka 2.69 billion in the financial year.
Of these three hotels, Le Meridien made the most money from renting out rooms. It earned 1.5 billion taka from room rentals, while Westin earned 980 million taka and Intercontinental earned 430 million taka.
Despite lagging behind in room rates, the InterContinental Hotel did better business in dining than the other two. The oldest five-star hotel earned Tk 1.12 billion from food and beverage sales in the year. Le Meridien Dhaka earned 1 billion taka from food sales while Westin earned 980 million taka.
As per the information given in the financial reports, star-hotels have some other sources of revenue apart from room rent and food sales. These sources include hall rent, health clubs, spas, parlors, salons and transportation. InterContinental earned the most revenue from these sources at 140 million taka, while Westin earned 130 million taka and Le Meridien earned 90 million taka.
Shakhawat Hussain, chief executive officer (CEO) of Westin Hotels, told Prothom Alo that a hotel's location is a big factor in this business. Gulshan and Banani are known as the upscale areas of the capital where diplomats, businessmen and wealthy people live. This is why hotels in Gulshan are likely to earn more revenue than hotels in Shahbag or Caravan Bazaar.