A Memorandum of Understanding was signed between American International University – Bangladesh (AIUB) and the Olives (Residence+ Suite) on 8th of August, 2016 establishing a relation of collaboration and resources sharing between both the parties. The MoU was signed by Prof. Dr. Charles Carillo Villanueva, Pro Vice Chancellor and Dean, Faculty of Business Administration, AIUB and Maruf Islam PhD, President and CEO, the Olives (Residence+ Suite) in the presence of Dr. Anisur Rahman Faroque, Head, Department of Marketing & Tourism & Hospitality Management, AIUB; Sabrina Rahman, Lecturer, Department of Tourism & Hospitality Management, AIUB; Mr. Khurshed Alam, Operations Manager, the Olives (Residence+ Suite) and Mr. Md. EKhtier Ahmed, General Manager and Head of Business, Lenovo, Smart Technologies (BD) Ltd. By signing the MoU, the Olives (Residence+ Suite) committed to provide practical laboratory facilities of front office, housekeeping and food & beverage for the students of the Department of Tourism & Hospitality Management and to provide their rooms, dine-in, spa and other facilities at a discounted rate for all the members of Management, Faculties and Students of AIUB. On the other hand, AIUB also committed to provide with its qualified and academically knowledgeable students to enrich the workforce of the Olives (Residence+ Suite) and to allow the employees of the Olives (Residence+ Suite) to do their MBA in AIUB with a waived tuition fee as per the policy of AIUB. During the signing ceremony, both the parties expressed their willingness to share their resources to provide the students with both academic and practical knowledge in order to build better manpower for the future and develop a positive image of the hospitality industry of Bangladesh in the global arena.