The hotel has been deflagged. I have a number of friends who worked in Karachi before the safety issues became so serious who have happy memories celebrating special occasions at this hotel.

http://tribune.com.pk/story/600889/h...s-its-sparkle/

The News reported that ASE has entered into a deal with Mövenpick Hotels and Resorts, an international hotel chain based in Switzerland. The property will be renamed as Mövenpick Hotel Karachi.

The Kuwaiti owner of the country’s only Sheraton Hotel cited the poor security situation and adverse government policies, which dented its revenues, as reasons for its decision, according to the report.

“Sheraton, being an American hotel chain, is vulnerable to terrorist attacks. This could be one of the reasons the property owners switched to a non-American hotel chain,” said MA Bawany, Executive Director at Pakistan Services Limited which owns and operates the country’s largest upscale hotel chain – Pearl Continental.

These luxury hotels, he said, charge less than $100 per night, the margin of recovery is very low. Under these conditions, he said, it can be difficult to pay royalty fee for a brand like Sheraton.