Unique Hotel back with a bang

Unique Hotel & Resorts Limited—a leading hospitality management company and the owner of The Westin Dhaka— rebounded with a profit in the second quarter (Q2) of the current fiscal year after 15 months hit by the Covid-19.

Its profit stood at Tk 6.72 crore in the October-December period of FY22 against a loss of Tk 2.76 crore in the corresponding period a year ago, according to its latest financial statement published on its website.

The hospitality and leisure business worldwide was hit hard by the epidemic, with hotels in most nations, including Bangladesh, forced to close as a result of the lockdown imposed by the governments.

However, the severity of the pandemic started to diminish as the vaccination programmes continued, helping the industries back to the business.

“The flexibility in travel band and developments in vaccination requirements across the world has started contributing to recovering the situation,” said the company in the Q2 statement.

Its profit went into red first in July-September period in 2020 when it suffered the loss of Tk 0.84 crore.

The total revenue was over Tk 40 crore in October-December of 2021, a jump of 116 per cent compared to the same period a year earlier, said the company.

On Tuesday, its share price declined slightly to Tk 54.3 on the Dhaka Stock Exchange.

Listed in 2012, the company’s present market capitalisation is Tk 1,639.8 crore, and paid-up capital Tk 294.4 crore, and it has Tk 1,678.9 crore in surplus reserve.

The company owned HANSA, a premium residence, has started operation in July 2018.

Construction work of another five-star hotel “Sheraton Dhaka” is nearly finished. Due to the Covid-19 impact, the work for furnishing and decorating the project was delayed. The project is expected to be completed soon. 

The company has two subsidiaries--Unique Meghnaghat Power Ltd and Sonargoan Economic Zone Ltd.