Pakistan’s AKD Group acquires major stake in Pearl-Continental Hotels operator

Pakistan’s AKD Group Holding has acquired a significant stake in Pakistan Services Limited, the company behind the country’s well-known Pearl-Continental Hotels chain, the group said in a regulatory filing.

The acquisition marks a major development in Pakistan’s hospitality sector, which has seen renewed investor interest following the pandemic.

According to a notice submitted to the Pakistan Stock Exchange on Thursday, AKD Group Holding and its subsidiary, AKD Securities Limited, purchased a combined 27.95% stake in Pakistan Services Limited.

The transaction was completed on July 14 and involved the acquisition of more than 9 million shares at PKR 700 per share. The deal is valued at approximately PKR 6.36, or $22.8 million.

Following the acquisition, AKD Group Holding now directly owns 24.26% of Pakistan Services Limited’s shares, while AKD Securities holds an additional 3.69%.

The company disclosed the deal in compliance with Pakistan’s securities laws on substantial shareholding and takeovers.

Pakistan Services Limited, incorporated in 1958, operates some of the country’s most prominent luxury hotels under the Pearl-Continental brand. It manages properties in major cities including Karachi, Lahore, Islamabad, Peshawar, and Bhurban. It also operates a budget hotel in Lahore and licenses its Pearl-Continental brand to franchisees.

AKD Group is one of Pakistan’s leading financial and investment conglomerates. Analysts say this move strengthens its position in the country’s real estate and hospitality industries.

“The deal reflects growing investor confidence in Pakistan’s hotel and tourism sectors,” said one Karachi-based market watcher. “These sectors are seeing a revival post-COVID, especially with infrastructure improvements and increased regional travel.”

Further developments are expected as AKD Group looks to align itself with Pakistan Services Limited’s long-term operational strategy.