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MarketScreener Homepage  >  Equities  >  The Pakistan Stock Exchange  >  Pakistan Services Limited    PSEL   PK0008501014

PAKISTAN SERVICES LIMITED

(PSEL)
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Pakistan Services : PC Hotel to open soon in Rawalpindi Bahria Town

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05/23/2020 | 06:38am EDT

To compliment the lifestyle of the upscale suburb of Rawalpindi with high-end hospitality, Hashoo Group has signed a Memorandum of Understanding between Pakistan Services Limited and AAA Associates to open a Pearl-Continental Hotel in Bahria Town Phase 8, Rawalpindi.

Speaking about this new hotel, Hashoo Group Hospitality Division, Chief Operating Officer Mr. Haseeb Gardezi highlighted the significant economic growth and employment opportunities that the opening of the brand-new five-star hotel will bring in the area. Mr. Gardezi said, 'We are pleased to partner with AAA Associates to make a landmark entrance with our Pearl-Continental brand in the heart of Bahria Town'.

The Chairman of AAA Associates Mr. Fawad Bashir and Managing Director, Lt. Col. Retd. Shahzad Ali Kiani added: 'We are honoured to contribute to a society where we see vast opportunities and a promising future with one-of-a-kind lifestyle', He also added that 'Pearl-Continental Hotel will be a part of AAA Octa Multipurpose development in the business district of Bahria Town Phase 8'.

Within the development the five-star hotel will feature a minimum of 120 rooms and suites, a variety of fine-dining multi-cuisine restaurants, a spa and fitness center, activity areas for children, as well as meeting rooms and large event spaces. The hotel will be a part of the multi-purpose AAA Octa Building , which not only will be one of the tallest buildings of Punjab but will also feature a theme-based mall, office spaces and an executive club to cater to a host of leisure and business activities. The building will be an expression of cultural construction making it one of its kind architecture in Pakistan with a mesmerizing view of an infinite pool, scenic and monumental surroundings of Bahria phase 8.

Pearl-Continental Hotel Bahria Town will expand Pearl-Continental's presence in Pakistan, adhering to its commitment of delivering quality standards to both resident guests and visitors from all around the world.

© Pakistan Press International, source Asianet-Pakistan

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Financials
Sales 2019 10 232 M 61,6 M 61,6 M
Net income 2019 -1 388 M -8,35 M -8,35 M
Net Debt 2019 14 591 M 87,9 M 87,9 M
P/E ratio 2019 -23,9x
Yield 2019 -
Capitalization 32 199 M 193 M 194 M
EV / Sales 2018 3,81x
EV / Sales 2019 4,67x
Nbr of Employees 3 450
Free-Float 99,0%
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Managers
NameTitle
Sadruddin Hashwani Chairman & Chief Executive Officer
Javed Iqbal Chief Financial officer
Mohammad Akhtar Bawany Executive Director
Bakar Shakir Abu Non-Executive Director
Murtaza Hashwani Non-Executive Director