AIMING to expand the Cristal Hotels & Resorts brand globally, Cristal Group Holdings has signed an MoU for a joint venture with Rufi Group, one of the largest real estate development companies in Pakistan.
The new partnership plans to open at least 10 contemporary properties in the next five years in Pakistan ranging from budget to luxury hotels.
Cristal Group currently operates the Cristal Hotel Abu Dhabi and opens the Cristal Salam Hotel in September 2011.
The group plans to increase its portfolio to 25 properties within the next five to 10 years throughout the Middle East, Africa and Asia.
Taking into consideration Pakistan’s hidden potential including adventure, heritage and sport tourism, cultural events, fairs and festivals as well as business travel, the country will be a perfect addition to the group’s carefully developed expansion plan.
Properties will be built in contemporary style and designed to offer guests luxurious accommodation and superb amenities with special attention to detail based on a precise understanding of the exact needs of business travellers.
Peter Blackburn, president and CEO of Cristal Group Holdings, said: “This is Cristal’s first venture out of the Mena region composing an essential part of our aggressive expansion plan. With its vast population, strategic location, a noticeably developing infrastructure and an impressive growth perspective, Pakistan is a very promising market for us and definitely a key to the rest of the Asian markets.”
“Cristal brand carries its own distinctive and unique aura along with its highly experienced top management team including Blackburn who has assisted in making more than 30 hotels successful throughout the Mena region and worldwide. Rufi represents three generations of trust and reputation and joining hands with Cristal Group Holdings we will break new ground in the hospitality industry of Pakistan,” said Mehroz Manzoor Rufi, group director of business development at Rufi Group.