11 parties bid for five Chitral Motels

CHITRAL, 01 June 07: In response to an Advertisement by the Privatization commission, Eleven parties have put up their 'Expression of interest' for the take over of five Pakistan Tourism Development Corporation (PTDC) Motels in Chitral. The PTDC Motels have been placed in various groups. The Chitral Motels at Chitral , Bumburet and Birmoghlasht have been put in group V and the bidders who have put up EOI for this group are Serena Hotel, KASB Capital, Al-Khalil Enterprises, Sunfort Hotel, Aurangzeb Khan, M/s Syed Tasneem Hussain Naqvi, Hashoo Group, Pakistan Private Equity Management Ltd, Contech International, Petrosin Engineering Pvt Ltd and Peshawar Pipes.

The PTDC Hotels at Booni and Mastuj have been placed in group VI. The parties who have put up EOI's for this group are namely Serena Hotel, KASB Capital, Sunfort Hotel, M/s Syed Tasneem Hussain Naqvi, Hashoo Group, Pakistan Private Equity Management Ltd and Petrosin Engineering.

Serena Hotels and Hashoo group are leading hoteliers in Pakistan running major five star hotels Hotels eg Serena, Marriot, PC. Similarly KASB is a sound Banking and financial institution while other bidders also are financially well placed to compete in the bidding.