Karachi, March 28, 2007 - Accor hotels launched operations in Pakistan by opening of its first hotel, the Grand Mercure – Karachi Airport Hotel. The hotel is ideally located, bordering terminal 1 & Star Gate. The property has state of the art five star facilities with 235 luxurious rooms, all day dining restaurant, coffee shop, health club, swimming pool, full service banqueting, marriage lawns, business center etc. The hotel will be an addition to the underserved hospitality market in Karachi. This is the first new five star prime property added in the hospitality sector of Karachi after a long break of over 2 decades. The hotel will be managed by Accor and is owned by UIG (Pvt.) Limited. UIG is a joint venture between JS Group & Qureshi family.
ACCOR
With 160,000 associates in nearly 100 countries, Accor is the European leader in hotels and tourism and the global leader in corporate services. To provide private and business clients with superior service, it leverages nearly 40 years of expertise in its two core activities:
- Hotels, with the Sofitel, Novotel, Mercure, Suitehotel, Ibis, Etap Hotel, Formule 1, Motel 6 and Red Roof Inn brands, representing more than 4,000 hotels and 475,000 rooms in 90 countries, as well as strategically related activities, notably Lenotre.
- Services to corporate clients and public institutions, through Accor Services. A total of 21 million people in 35 countries benefit from our broad portfolio, which includes food vouchers, people care, incentives and loyalty programs.
JS Group
Built over four decades, JS Group is one of Pakistan’s most diversified and progressive financial services groups.
The group has grown from its roots in Pakistan’s financial services industry. JS Financial operates market-leading companies in asset management, investment banking, securities brokerage, commercial banking, insurance and trade finance.
The group also includes five vertical businesses: JS Industrial, JS Infocom, JS Property, JS Resources and JS Transportation. We believe each of these sectors, in itself, offers an exciting and attractive long-term investment proposition in Pakistan. Our diversification across these sectors allows JS to ride out each sector's individual business cycle and take a long term approach to investing in and building our businesses.
The group has offices throughout the major cities in Pakistan and manages its international operations from its London office. The group comprises businesses with over 18,000 employees and net income of over US$150 million in 2006.
JS continually challenges itself to dynamically grow its businesses, both internally and through world-class partnerships, while setting ever higher standards of excellence and governance.
