Pakistani business conglomerate
Hashoo Group (Urdu pronunciation:[hɑːˈʃuː]hah-SHOO) is a group of companies headquartered in Karachi. It is active in hospitality, oil and gas sectors. It was founded in 1960.[1]
Hashoo Group was established in 1960 as Hassan Ali & Company, a commodities trading company based in Karachi Port. By the 1970s, it had become one of Pakistan's largest trading companies. However, in 1972, the Government of Pakistan nationalized cotton and rice exports leading the Hashoo Group to diversify into the hospitality sector. In 1978, the group established Holiday Inn Hotel in Karachi, and then another one in Islamabad in 1981. Both of the hotels were converted into Marriott brand in the 1990s. In 1985, the group made a successful bid for the majority shares of Pakistan Services Limited, which then owned four Inter-Continental Hotels across Pakistan, the hotels were re-branded into Pearl-Continental Hotels.[2]
In 1995, Hashoo acquired the US-based corporation Occidental Petroleum's Pakistan operations (now known as Orient Petroleum Inc.).
In 2001, Hashoo acquired the Destinations of the World franchise in Pakistan. In 2012, the group launched Hotel One, a mid-range hotel chain in Pakistan.[3]
In 2008, Hashoo Group founded a budget hotel chain called Hotel One which operates on the franchising model.[4]
In October 2013, Tullow Pakistan exited the Pakistani market and sold its assets to Ocean Pakistan Limited, a subsidiary of the Hashoo Group.[5]
In March 2016, BHP Billiton sold its Pakistani oil and gas operations to Hashoo Group.[6]