Westin Dhaka’s revenue jumps 84% in H1 FY23

The Westin Dhaka – a five-star hotel operated by Marriott International – reported an 84% jump in its revenue in the first half of FY23.

During the period, it earned Tk100 crore, 48.32% of which was from rooms while 45.15% from food services.

According to its official statement, compared to the last two years, the economic activities of the country have increased in the current fiscal year. Consequently, the number of guests and programmes in five-star hotels have also increased. 

Riding on these earnings, Unique Hotel and Resort – owner of Westin Dhaka – posted a 135% growth in revenue to Tk141 crore in the July-December period of last year.

The travel and leisure sector company's net profit also jumped around five times to Tk45 crore while its earnings per share stood at Tk1.52 during the first half of FY23.

Unique Hotel and Resort said its revenue and profit increased due to the increase in Westin's revenue as well as the revenue it earned from a new hotel – Sheraton – that started operating under it last year.

Currently, Sheraton Hotel Dhaka has been selling food, but it has not started welcoming guests yet. In the first six months of FY23 it has sold food worth Tk29 crore.

The company will also build Westin-2 in the Gulshan area as an extension of Westin Dhaka. The company signed a Tk500 crore loan deal with the Al-Arafah Islami Bank last year to finance the project.

Shares of Unique Hotel are currently being traded at Tk68 each on the Dhaka Stock Exchange (DSE). Its share price increased by 22% in January this year.