Sheraton hotel is one of the biggest hotel in Karachi and its services is among the best services of the world. It is a chain of American hotel and it is run by an American company Starwood hotels and Resorts Worldwide Inc. The Kuwait based owner of Sheraton hotel Karachi, Arabian Sea Enterprises Limited has decided of not renewing its contract with Mövenpick hotels and Starwood due to some financial and economic reasons. Instead it has decided to enter into deal with the foreign investment dropped from $ 5.3 billion in 2007-2008 to $ 1.4 billion in 2012-2013.the main reason to become the partner of Mövenpick hotels is the god offers from these star wood hotels. And these hotels also have their international luxury hotel based in Switzerland and is very famous all over the world and have good business. The main reason to become a partner of the Then the Sheraton Hotel will now become Movenpick Hotel Karachi. But now this hotel is going to shut down its business in Karachi. There are many reasons for the hotel management and owner to close the business in Karachi. One of the most common reasons is the terrorism and bad situation of the Karachi. The hotel is going to shut down its business in Karachi in the January 2014.
It is going to close due to law and order situations in Karachi and due to the announcement of Pakistan government of operation against terrorism and fight against the criminal groups in Karachi are the prime reason for the owner of the hotel to close the business. Unfortunately the previous government of Pakistan was failing to control the crimes In Pakistan especially in Karachi. There is a record of more than 150 crimes in Karachi. Karachi is a financial hub and the revenue generating city of the Pakistan. It is also called as the mini Pakistan. Being a part Karachi was in need of great care and attention but the government did not pay attention in Karachi when the crime rate was very low if government control the situation in the start than now there was no need for different agencies and hotel to be closed because after control of crimes Karachi will be a city of peace as it was before the crimes. It is also said that the Sheraton hotel has faced the problems of attack so it has decided to close the business. It is royal branded hotel of Karachi and all American and non-American hotel running in Pakistan is paying $100 for one night to Pakistan government. So it was also a good source for the Pakistan government. The hotel was ruing well before 2008 but after 2008 the conditions and situation of Karachi become bad an there was a great loss to the hotel. According to the American company who is running this hotel in Karachi the foreign investment dropped from $ 5.3 billion in 2007-2008 to $ 1.4 billion in 2012-2013. This is really a great loss for such a high class business and it is the best decision to close the hotel.