Significant Investment to Boost Moroccan Hospitality
In a strategic move poised to enhance the Moroccan hospitality landscape, the North African hotel group, Pickalbatros Hotels & Resorts, has been awarded a substantial funding package amounting to USD 250 million. This financial support comes from a collaboration between the International Finance Corporation and Attijariwafa Bank, enabling Pickalbatros to accelerate its growth trajectory in Morocco. Under the leadership of Egyptian entrepreneur Kamel Abou Aly, the company plans to acquire two prestigious hotels in Casablanca while also investing in significant upgrades to its existing properties in the vibrant cities of Marrakech and Agadir.
Currently, Pickalbatros operates an impressive portfolio of nine hotels across Morocco, totaling over 2,700 rooms. The new funding will not only facilitate these acquisitions and enhancements but will also allow for the refinancing of the group’s existing financial obligations, setting a solid foundation for future expansion.
Expansion into New Markets and Sustainability Initiatives
The Moroccan market represents a crucial secondary frontier for Pickalbatros, which has established a robust presence in Egypt with numerous hotels across five major regions. As part of this expansion, the group will introduce two Accor-branded hotels: the Sofitel Casablanca Tour Blanche and Mövenpick Hotel Casablanca. The acquisition of the Sofitel was reported at MAD 450 million, while the Mövenpick was sold by Sanlam Morocco. Notably, the upgrades planned for the Marrakech and Agadir properties will focus on environmental sustainability, supported by sustainability-linked financial initiatives, reflecting a growing trend in the hospitality industry towards eco-friendly practices.
Moreover, the company recently inaugurated the Palais des Roses Resort in Agadir, an all-inclusive family-oriented property featuring a water park and leisure amenities tailored for both children and adults. Beyond Morocco, Pickalbatros is expanding in Egypt with the addition of the Oberoi Sahl Hasheesh to its portfolio, which now exceeds 5,000 rooms in the region.
Morocco is increasingly recognized as a burgeoning market in Africa, following in the footsteps of Egypt's success. The capital city, Rabat, is currently witnessing a surge in internationally branded hotels under construction, with Hilton poised to unveil three new properties within the next year, including the Hilton Rabat and a 94-room Curio Collection hotel. The highlight will be the 228-room DoubleTree by Hilton Marina Agadir, located near the ocean, which will feature both hotel accommodations and serviced apartments.
Casablanca is also on the brink of a hotel boom, with several international brands planning to launch new properties. Notable developments include the upcoming Mama Shelter Casablanca, a 141-room hotel by the French group Accor, and Marriott’s introduction of its AC Hotels brand alongside a long-stay Residence Inn. Furthermore, Radisson Hotel Group is set to open the Radisson RED Casablanca Finance City and an adjacent Radisson Blu hotel and apartments project, both anticipated to welcome guests by 2028. As the Moroccan hospitality sector continues to evolve, the influx of international brands signifies a promising future for tourism and economic growth in the country.
As reported by tophotel.news.
