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Acquisitions & Hotel Openings

Marriott Signs with Imperium Hospitality to Open Sheraton Grand Hotel in Lahore, Pakistan

LAHORE, PK. October 18, 2017 - Marriott International, Inc. announced an agreement with Imperium Hospitality to open a Sheraton Grand Hotel in Lahore – marking the company’s first hotel in Pakistan’s key gateway city. Scheduled to open in 2021, the hotel will carry the Sheraton Grand designation which represents the premier tier of Sheraton hotels recognised for their enticing destinations, distinguished designs and excellence in service and guest experiences.

“Sheraton continues to maintain its first mover advantage through strategic pipeline development and growth plans and we are now excited to introduce the brand in Lahore,” said Samir Baidas, Chief Development Officer, Middle East & Africa, Marriott International. “There is a demand for international hospitality brands in the city and with its innovative guest experience and differentiating design, Sheraton will meet the needs of business and leisure travellers, as well as local residents in Lahore.”

The capital of the Pakistani province of Punjab, Lahore’s strategic location in the heart of the country is a key trade route for the country. The city is also home to the recently renovated Allama Iqbal International Airport – one of the country’s largest and busiest airports.

Qasim Jafri, CEO of Imperium Hospitality, commented: “With the signing of Sheraton Grand Lahore, we intend to surpass international benchmarks, not match them. Imperium Hospitality is re-engineering premium hospitality and the luxury living landscape of Pakistan. We strongly believe that with our quest for excellence, combined with cutting edge skills in planning, construction, and operations, we will deliver unparalleled architectural design with a stunning hospitality experience.”

Sheraton Grand Lahore will feature 168 well-appointed guestrooms and comprise four food and beverage outlets, including a specialty restaurant. The hotel will also offer a fitness center with a swimming pool, a signature spa and ultra-modern meeting facilities including a 500 sqm ballroom.

The hotel will be designed by Eco.id Architects who have worked on several Marriott International properties including, W Maldives, Sheraton Kathmandu Hotel and the Four Points by Sheraton Bintan.

Marriott International currently operates two hotels and over 500 rooms in Pakistan – Islamabad Marriott Hotel and Karachi Marriott Hotel.

About Sheraton Hotels & Resorts

Sheraton Hotels & Resorts, part of Marriott International, Inc., makes it easy for guests to explore, relax and enjoy the possibilities of travel at nearly 450 hotels in over 70 countries and territories around the world. Sheraton continues to enhance the brand through innovative guest experience, differentiating design, multi-channel marketing and a sharp focus on service. Sheraton is proud to participate in the industry’s award-winning loyalty program, Starwood Preferred Guest®. Members can now link accounts with Marriott Rewards®, which includes The Ritz-Carlton Rewards® at members.marriott.com for instant elite status matching and unlimited points transfer. To learn more, visit www.sheraton.com. Stay connected to Sheraton on Facebook, and @sheratonhotels on Twitter and Instagram.

About Marriott International

Marriott International, Inc. (NASDAQ: MAR) is based in Bethesda, Maryland, USA, and encompasses a portfolio of more than 6,200 properties in 30 leading hotel brands spanning 125 countries and territories. Marriott operates and franchises hotels and licenses vacation ownership resorts all around the world. The company also operates award-winning loyalty programs: Marriott Rewards®, which includes The Ritz-Carlton Rewards®, and Starwood Preferred Guest®. For more information, please visit our website at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com. In addition, connect with us on Facebook and @MarriottIntl on Twitter and Instagram.

Contact:
Chandan Belani
chandan.belani@marriott.com
+971 50 550 1732

Coming Up In The December Online Hotel Business Review




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Feature Focus
Hotel Law: Issues & Events
There is not a single area of a hotel’s operation that isn’t touched by some aspect of the law. Hotels and management companies employ an army of lawyers to advise and, if necessary, litigate issues which arise in the course of conducting their business. These lawyers typically specialize in specific areas of the law – real estate, construction, development, leasing, liability, franchising, food & beverage, human resources, environmental, insurance, taxes and more. In addition, issues and events can occur within the industry that have a major impact on the whole, and can spur further legal activity. One event which is certain to cause repercussions is Marriott International’s acquisition of Starwood Hotels and Resorts Worldwide. This newly combined company is now the largest hotel company in the world, encompassing 30 hotel brands, 5,500 hotels under management, and 1.1 million hotel rooms worldwide. In the hospitality industry, scale is particularly important – the most profitable companies are those with the most rooms in the most locations. As a result, this mega- transaction is likely to provoke an increase in Mergers & Acquisitions industry-wide. Many experts believe other larger hotel companies will now join forces with smaller operators to avoid being outpaced in the market. Companies that had not previously considered consolidation are now more likely to do so. Another legal issue facing the industry is the regulation of alternative lodging companies such as Airbnb and other firms that offer private, short-term rentals. Cities like San Francisco, Los Angeles and Santa Monica are at the forefront of efforts to legalize and control short-term rentals. However, those cities are finding it’s much easier to adopt regulations on short-term rentals than it is to actually enforce them. The December issue of Hotel Business Review will examine these and other critical issues pertaining to hotel law and how some companies are adapting to them.