Operator of PC Hotels in Pakistan sees 56% stake shift in  restructuring

Pakistan Services Limited (PSL), the owner and operator of Pearl-Continental Hotels & Resorts, has announced a significant development in its shareholding structure following public disclosures on the Pakistan Stock Exchange (PSX).

According to an official statement from PSL, the Hashoo Group — the controlling shareholder of Pakistan Services Limited — has entered into a strategic financing arrangement with Dawood Jan Muhammad and the AKD Group. This move is part of a broader initiative aimed at consolidating and streamlining the Hashoo Group’s shareholding in PSL.

The company clarified that the arrangement does not represent a divestment and that control of Pakistan Services Limited remains firmly with the Hashoo Group and the Hashwani family. Instead, the transaction marks the first phase in a long-term strategy to optimize PSL’s corporate structure and improve operational efficiency.

On July 17, Pakistan Services Ltd. disclosed through a filing to Pakistan Stock Exchange, that Dawood Jan Muhammad and the AKD have acquired around 9,107,800 shares and 9,089,659 shares of the entity valuing PKR 700 per share.

Following the buyout, both Dawood Jan Muhammad and AKD hold 28% each of PSL.

Since the buyout and the disclosure to the Pakistan Stock Exchange, the share price had gone up by 57% to PKR 1,097 by the end of Tuesday. However, during trading on Wednesday, the share price dipped by PKR 7 or 0.6% to PKR 1,090.

Pakistan Services Limited owns and manages a chain of seven Pearl Continental (PC) Hotels in Pakistan. These are located in major cities including Karachi, Lahore, Rawalpindi, Bhurban, Muzaffarabad, Malam Jabba, and Skardu.

PSL also has upcoming properties in Mirpur and Multan.

Founded in 1958, Pakistan Services Limited has grown to become a cornerstone of Pakistan’s hospitality sector, operating the prestigious Pearl-Continental Hotels & Resorts chain. The Hashoo Group, led by the Hashwani family, has overseen this expansion for decades, with properties spanning key cities and tourist destinations across the country.

This latest transaction is described by company officials as a milestone that will enhance the long-term value of PSL’s expanding portfolio. The move aims to improve the allocation of resources, bolster financial resilience, and support sustainable growth in a rapidly evolving hospitality landscape.

PSL emphasized that the arrangement will have no impact on the company's operational framework, including day-to-day hotel operations, management structure, or the responsibilities of its Board of Directors.

"The transaction is a key part of our roadmap to strengthen market position and reinforce our long-term growth plans," the company stated, reaffirming its commitment to transparency and shareholder value.