Thatta Cement Company Limited just made a bold move into Pakistan’s hospitality world by snapping up a 28% voting stake in Pakistan Services Limited, the folks behind the fancy Pearl Continental Hotels.
The deal clocked in at around Rs. 6.46 billion, with the company grabbing 9.1 million shares at Rs. 710 each, as laid out in a fresh filing to the Pakistan Stock Exchange. It’s a smart play for Thatta Cement, a longtime player in cement making and green energy, looking to spread its wings beyond dusty factories.
This buyout wraps up on October 13, 2025, and it’s got investors buzzing about fresh opportunities in a sector that’s picking up steam after tough times.
The timing feels right, coming hot on the heels of AKD Group Holdings’ big grab of a 27.95% chunk back in July 2025 for about Rs. 6.36 billion. That earlier deal already shook things up for PSEL, which runs those iconic Pearl Continental spots in spots like Karachi, Lahore, and Peshawar, plus a few budget stays and franchise deals.
Now with Thatta Cement in the mix, the boardroom could see some lively chats about growth and tweaks to keep guests coming back. For Thatta, it’s all about padding the portfolio, think steady cash from hotel bookings to balance out the ups and downs of construction booms.
PSEL’s got a storied past, kicking off as a state-owned outfit in 1958 and turning into a go-to name for luxury stays across the country. These stake grabs hint at deeper pockets flowing in, maybe sparking upgrades or even new outposts to lure more tourists and business travelers.
Thatta Cement’s recent Rs. 5.5 billion Sukuk raise probably greased the wheels for this, showing how they’re betting big on blending industries for the long haul. It’s a reminder that in Pakistan’s fast-changing economy, cross-sector jumps like this can spark real change.
This deal spotlights how savvy firms are eyeing hospitality as a growth engine amid recovery vibes. With major players like Thatta and AKD piling in, Pearl Continental might just shine brighter.
As these shifts unfold, they could boost jobs and local scenes in a big way. Wrapping up, it’s exciting to see homegrown companies team up for bigger wins, keep tabs on what comes next in Pakistan’s business beat.
