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    PSEL   PK0008501014

PAKISTAN SERVICES LIMITED

(PSEL)
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Pakistan Services : Pearl Continental Hotel in Bahria Town, Phase-8 to open soon

05/23/2020 | 06:35am 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 OperatingOfficer Mr. HaseebGardezi highlighted the significant economic growth and employment opportunities that the open ing of the brand-new fivestar 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 All Kiani added: 'We are honoured to contribute to a society where we see vast opportunities and a promising future with oneof-a-kind lifestyle", He also added that "PearlContinental Hotel will be a partof 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 moms 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 OctaBuilding , 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 dub 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 2020 8 742 M 55,7 M 55,7 M
Net income 2020 -2 075 M -13,2 M -13,2 M
Net Debt 2020 16 145 M 103 M 103 M
P/E ratio 2020 -15,5x
Yield 2020 -
Capitalization 32 199 M 204 M 205 M
EV / Sales 2019 4,63x
EV / Sales 2020 5,53x
Nbr of Employees 2 677
Free-Float 99,0%
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Managers and Directors
NameTitle
Murtaza Hashwani Chief Executive Officer & Executive Director
Tahir Mehmood Chief Financial Officer
Sadruddin Hashwani Chairman
Muhammad Ahmed Ghazali Marghoob Independent Director
Rohail Ajmal Independent Director