Unique Hotel changes name

The Dhaka Stock Exchange (DSE) has approved a proposal of Unique Hotel and Resorts Limited concerning its name change.

With this approval, the company, from now on, will be known as ‘Unique Hotel and Resorts PLC’.

All other aspects of the company, including its ownership and operations, will remain unchanged, according to a filing posted on the DSE website on Wednesday.

Unique Hotel and Resorts, a leading hotel and hospitality management company, announced an impressive financial result for the first half of the current fiscal year.

The publicly traded company reported a net profit of Tk 44.75 crore in the July-December period of the fiscal year 2022–23, which was 463 per cent higher than the profit of Tk 7.94 crore in the same period last fiscal.

The company’s both revenue and net profit jumped significantly during that time. Meanwhile, its earnings per share (EPS) rose to Tk 1.52 in H1 of the current fiscal, up from Tk 0.27 for the same period last fiscal.

The company, which owns The Westin Dhaka, is the pioneer of establishing and operating five-star hotels in the private sector.

The company’s net asset value (NAV) per share stood at Tk 84.79 till December 2022, up from Tk 84.73 in June 2022.

The company paid a 15 per cent cash dividend to its general shareholders for the year ending in June 2022.

It had paid a 10 per cent cash dividend for the previous fiscal year. Its EPS stood at Tk 3.20 at the end of FY22. With a market capitalisation of Tk 1,851 crore, the company has a paid-up capital of Tk 294 crore and a surplus reserve of Tk 1,581 crore.

Listed in 2012, Unique Hotel and Resorts received approval to operate the business under the brand name ‘The Westin Dhaka’ on July 1, 2007.