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ISLAMABAD, July 3: 4-B Marketing, the highest bidder for Faletti's Hotel, Lahore, on Friday deposited the bid price of Rs1.211 billion with the Privatization Commission to take over the hotel.
A late night announcement by the Privatization Commission said the sale agreement to hand over the hotel to the bidder would be signed shortly.
The representative of the highest bidder met Privatization Minister Dr Abdul Hafeez Shaikh before depositing the money.
The minister expressed the hope that the new management would build a quality hotel in the given three-year time, which would generate tourism activity in Lahore.
