Sadruddin Hashwani, a Pakistani business tycoon
Sadruddin Hashwani is a Pakistani business tycoon and billionaire. He is the founder and chairman of Hashoo Group, a conglomerate best known for Pearl-Continental Hotels & Resorts. He is the fifth-wealthiest Pakistani with an estimated net worth upward of a billion dollars.
Sadruddin Hashwani was Born in Karachi, in a Gujarati Khoja family. He studied at the University of Karachi and founded the Hassan Ali Company in 1960. By 1970s, it had become Pakistan’s largest cotton trading company. However, the company was nationalized in 1973. In 1978, he launched the Holiday Inn hotel in Islamabad and in Karachi in 1981. Both of the hotels were converted into Marriott brand in 1990s. In 1985, Hashwani 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 as Pearl-Continental Hotels.
Saddaruddin Hashwani іѕ known fοr hіѕ name in hotel industry of Pakistan, though Hashwanis hаνе strength in real estate business tοο. Hashwanis аrе involved іn trading οf cotton, grain аnԁ steel аnd till thе nationalization οf cotton export іn 1974, thеу wеrе widely being dubbed аѕ thе Cotton Kings οf Pakistan. Today, thіѕ group hаѕ excelled іn export οf rice, wheat, cotton аnԁ barley. It owns textile units, besides having invested billions іn mines, minerals, hotels, insurance, batteries, tobacco, residential properties, construction, engineering аnԁ information technology.
Sadruddin Hashwani is the Chairman of Hashoo Group. Today, ‘Hashoo Group’ is one of the most diversified industrial groups in Pakistan with interests across tourism, travel, real-estate development, pharmaceuticals, IT, and oil and gas. Also, the Hashoo Group of Companies has in its fold, as owners and operators, the Pearl Continental Hotels and Marriott Hotels brands with presence in all major cities of Pakistan and Ocean Pakistan Limited, a prestigious Oil and Gas exploration and production company. Today he is known to be the leading figures in hospitality industry around the world and has been honored with various awards including a gold medal for distinguished services for hospitality industry in Pakistan at World Tourism convention.
Marriott too, belongs to Hashoo Group. When Hashoo Group started using the Marriott name it was one of the first times in the history of the corporation that they had given a franchise to a hotel that was not directly under their management control. An achievement for Hashoo group, indeed. Sadruddin Hashwani terms it as a matter of great satisfaction because when he met Bill Marriott he had never thought about the franchise. Then they sent their people to inspect these hotels before offering the franchise. As a matter of fact, the franchise agreement of the Marriott was made based on Hashwani’s hotel contract and drafted here in Pakistan. Today the format of franchise agreements has been initiated by the Hashoo Group and Sadruddin Hashwani is very satisfied that Marriott decided to recognize the product and lend it their name. ( Also see: Story of Mian Mansha )
In 2014, Hashwani published his best-selling memoir “Truth Always Prevails”. He has also off shore companies. In April 2016, he and his son, Murtaza Hashwani, were named in the Panama Papers. In this regard investigations are pending in Pakistan.