The Hersha Group, which operates a hotel chain comprising 33 hotels on US East Coast providing premium limited services, was here this week to evaluate entering into Pakistan's hospitality sector. During their visit, they met prominent public and private sector parties, including Board of Investment (BoI) Chairman Waseem Haqqi, SECP Chairman Dr Tariq Hasan, Industries Minister Ajmal Cheema, Sialkot and many large local business groups for potential JVs.
The visit was organised by the United Bank Limited (UBL) in collaboration with the US-Pakistan Business Council in Washington as a part of UBL's effort in bringing FDI in Pakistan.
The United Bank has played a major role in developing the country's infrastructure by sourcing and executing large projects through its active investment banking arms.
This initiative with the Hersha Group will boost construction activity as well as create employment and help achieve the government's objective of poverty alleviation.
Last year, both the UBL and the US-Pakistan Business Council jointly initiated a project in call centre/BPO space which would generate over 1,500 job opportunities in the IT sector.
The Hersha Group is vertically integrated, having a management company, construction services company, design and supply company and a Real Estate Investment Trust (REIT).
The hotels operate under the brands Marriot, Hampton Inn, Hilton Garden Inn, Holiday Inn, Holiday Inn Express, DoubleTree, Comfort Inn, Comfort Suites, Mainstay Suites, and Sleep Inn.-PR
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