Pakistan is gradually emerging as a premium tourist destination, however, the potential, to a great extent, still remains untapped. This is because there are only a handful of hotels in Pakistan in general, and fewer so in the Northern Areas that provide all the necessary amenities required by tourists.
The COVID-19 pandemic has further exacerbated the problem as it will impact foreign exchange along with retarding the regional economy. Investors seeking secure options (for land, houses, residential properties etc.) in the post-pandemic era are re-adjusting their investing patterns. Due to the volatile nature of the revenue-generating process, investors are wary of investing in Pakistan’s hotel business.
While most of the world economies were under harsh lockdowns, the smart lockdown policy implemented by the Government of Pakistan allowed for limited travel. This allowed tourism in Pakistan to stay afloat. People were unable to travel across the globe due to COVID limitations, creating a chance for local tourism to thrive. As a result, there was a massive influx of local tourists in Pakistan’s most popular tourist spots, resulting in a shortage of lodging and accommodation options.
The main problems are sustainable development, hotel construction and operation, facility alignment with international standards, and infrastructural development through road construction.
Graana.com, Pakistan’s smartest property portal, takes a look at the hospitality initiatives taken by the IMARAT Group.
The IMARAT Group of Companies and Marriott International have signed a franchise deal to open Residence Inn and Courtyard by Marriott in separate locations throughout Pakistan, marking a watershed moment in the country’s hospitality industry.
The hotels will be constructed in the federal capital, providing premium accommodations as well as world-class facilities and services to customers. Marriott International was introduced in the country as a result of the persistent efforts of the management at IMARAT Group.
The G-11 hotel is currently under construction in the centre of the Islamabad metropolis in sector G-11. The hotel will house a branch of the 4-star hotel, Courtyard by Marriott. Once completed, it will be the closest hotel to Islamabad International Airport.
Furthermore a restaurants, banquet halls, a shopping area, and a fitness centre, the hotel plans to have 200 suites, a business centre, and a rooftop swimming pool.
The Marriott and IMARAT Group in January 2021 signed an agreement to construct a branch of Residence Inn in Pakistan. The project spans over 2,730 square yards and plans to have a retail area on the lower floor while the top five floors will be dedicated exclusively to the hotel.
The boutique hotel will have its exclusive entrance on the ground floor and separate parking in the basement. Residence Inn will be equipped with all the amenities of a corporate lifestyle. These include board rooms, meeting rooms, an all-day dining restaurant, a gym, a luxury spa, and a rooftop pool.
This hotel is located a few miles away from the city’s financial centre and historical downtown on Egerton Road, Lahore. It also offers a shuttle service to the Allama Iqbal International Airport.
IMARAT Group has signed a contract with Marriott to construct another branch of Four Points by Sheraton in Islamabad. It will be located in one of the biggest commercial malls in Pakistan, the Mall of Arabia, on the Islamabad highway.
The mall will have mid-century Arabian architecture and will be in close proximity to Bahria Town, Defence Housing Authority (DHA) and other neighbouring societies.
The hotel will have a wide range of amenities including classic, executive, and business suites, a restaurant that serves multiple cuisines, a fully equipped gym, a swimming pool, and a spa.
IMARAT Group, in pursuit of its vision of providing top-of-the-line hospitality, has recently signed an MOU with Marriott International to set up a fourth branch of Fairfield Marriott in DHA Multan.
Chairman IMARAT Group, Mr. Shafiq Akbar, stated on the signing of the MoU: “We are working for the betterment of the tourism industry in Pakistan, as well as generating job opportunities and improving standards of client servicing, which adds value to our existing portfolio of brands. We are excited and looking forward to our fourth franchise with Marriott.”
To read more on the projects by IMARAT Group, visit Graana.com.
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