Nishat Hotels acquires Islamabad’s Hotel Margalla
Caption: File Photo
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Competition Commission of Pakistan (CCP) has approved Nishat Hotels application for acquiring Hotel Margalla in Islamabad, reported 24NewsHD TV channel on Saturday.
According to CCP, the transaction will not have any negative impact on competition in the market.
The market share of Hotel Margalla's 92-room motel is 5.46 percent.
Nishat Hotels' activities are limited to Lahore, while Hotel Margalla is operating only in Islamabad.
There is no fear of concentration in the market due to no overlap in the geographical market and competitive environment will remain in the hospitality sector.
There is no major obstacle in the entry of new investors in the hospitality sector.
Reporter: Waqas Azeem