Times National Desk - May 3rd, 2011
The Dhaka Sheraton Hotel was renamed Ruposhi Bangla Hotel as the state-owned Bangladesh Services Ltd’s agreement with Starwood Hotels and Resorts is set to end on Saturday.
The BSL that owns the hotel will look after its management and operations till another world-class operator and management company takes over the task of running the hotel.
Starwood Hotels and Resorts that operates under the brand name of Sheraton had a 25-year deal with the BSL which expired on December 31, 2008. The company had since extended the contract ten times.
The company wanted that the BSL renovated the hotel at a cost of $25 million by 2018. But the BSL’s negotiations with Starwood on the issue broke down over some conditions set by the latter.