 | Sheraton to stay until April 30
02 April, 2011
In response to a government request to help Bangladesh Services Ltd (BSL) take preparations to operate the hotel, Sheraton has extended its stay up to April 30, officials said yesterday.
“We could not take adequate preparations to take over the management and operations of the hotel within a short span of time. So we asked officials of Starwood for a month-extension, and they agreed,” said a top BSL official, asking not to be named.
Starwood is the parent company of Sheraton.
According to operation and management terms, Sheraton was supposed to fold its business by March 31 as the international hotel-chain brand and the government differed on operating conditions.
State-owned BSL that owns the hotel will handle management and operations of the hotel for three months from May 1.
Meanwhile, BSL has started looking for a world-class operator and management company to run the hotel.
Sheraton had a 25-year-deal with BSL, which expired on December 31, 2008. The company had since extended its contract nine times -- three months each time.
Release link:http://www.thedailystar.net/newDesign/news-details.php?nid=180029
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