The Pakistan Competition Committee (CCP) has approved the acquisition of NISHAT hotels and Properties Limited for the Margala Hotel in Islamabad, which paves the way for Nishat to enter the hospitality sector in the capital.
Under the agreement, Nishat Hotels will get Hotel Margala, including rented rights to SRINAGAR, hotel structure, equipment, benefit connections, and transmitted property.
Margala Hotel, a medium -sized facility of 92 rooms, has a 5.46 % market share in the hospitality industry in Islamabad. Initially, the hotel started 50 rooms in its classic suite, and it includes the famous golf view. Over the years, due to the increasing demand, it has expanded to accommodate business meetings, corporate agreements, social events, and luxury residence.
Nishat Hotels, a subsidiary of the NISHAT group, runs luxurious accommodations in Lahore, including high -end Nishat hotels in the city of Johar and Gulberg. As one of the largest blocs in Pakistan, with various interests in textiles, banking services, cement, power, and hospitality, the Nishat group owned by billionaire Mian Mohamed Manche, who also controls MCB and various other institutions.
The CCP competition has decided that the acquisition will not create market domination fears, as there are current NISHAT operations in Lahore, while the Margala Hotel exclusively serves Islamabad. The committee also noted that moderate entry barriers in the hospitality sector help maintain a competitive scene.
Through this acquisition, Nishat Hotels expands its mark beyond Lahore, as the hotel market in the capital is entering without changing the dynamics of competitiveness significantly.
