The first five star hotel of the country, owned by Bangladesh Services Ltd, started its journey in the name of Hotel InterContinental Dhaka back in the mid sixties, subsequently operated as Dhaka Sheraton Hotel, and of late as Ruposhi Bangla from May 2011 to 31st August 2014 after the expiry of the contract with Starwood, the parent company of Sheraton.

On 19th February 2012, BSL has signed a Management Agreement with InterContinental Hotels Group (Asia pacific) Pte Ltd. (IHG) for a 30-year term for management of its hotel with the option o renew the agreement for 2 terms of 5 years each.

As per the agreement, the hotel shall have to be renovated as per brand standards of IHG. Thereafter, on completion of the renovation works, the hotel shall be rebranded as InterContinental Dhaka. The renovation has commenced in March 2015 and is scheduled to be completed in mid-2017. A brief overview of the proposed "InterContinental Dhaka" is given below: