Hotel operator: UAE-based group plans to establish 10 properties

MoU signed for development of luxury and budget hotels.

KARACHI:

Cristal Group Holdings, a UAE-based hotel operator, plans to open at least 10 contemporary properties over the next five years in Pakistan ranging from budget to luxury hotels to suit every budget of discerning travellers.

To further the Group’s expansion aims of its Cristal Hotels and Resorts brand to 25 properties within the next five to 10 years throughout the Middle East, Africa and Asia, Cristal Group Holdings signed a Memorandum of Understanding (MoU) for a joint venture with Rufi Group, one of largest real estate development companies in Pakistan.

Taking into consideration Pakistan’s hidden potential including adventure, heritage, sport tourism, cultural events, fairs, festivals and business meetings, it will be a perfect addition to the Group’s expansion plan, said a press release.

Properties belonging to the group will be built in contemporary style designed to offer guests luxurious accommodation and superb amenities with special attention to details based on a precise understanding of exact needs of business travellers.

Cristal Group Holdings President and CEO Peter Blackburn said: “This is Cristal’s first venture out of MENA region composing essential part of our aggressive expansion plan. With its vast population, strategic location, a noticeably developing infrastructure and impressive growth perspective, Pakistan is a very promising market for us and definitely a key to rest of Asian markets.”

Published in The Express Tribune, July 20^th, 2011.