Pickalbatros Hotels & Resorts Expands Presence in Morocco with Acquisition of Four New Hotels
Pickalbatros Hotels & Resorts, one of Egypt's largest hotel chains, has extended its presence in Morocco through the acquisition of four new hotels, increasing its hotel capacity in the Kingdom to over 2,600 rooms. The newly acquired properties include the Club Sangho Privilège in Marrakech, which features 349 rooms, and the Palmeraie Palace and Golf Hotel, also in Marrakech, with 640 rooms. Additionally, the Palais des Roses in Agadir, with 410 rooms, has been added to the group's portfolio. All of these establishments will undergo renovation before being opened to the public. The financial details of the acquisitions have not been disclosed. In its previous Moroccan acquisitions, the Egyptian group had invested $200 million.
Following this operation, the company now operates a total of seven hotels in the country and is actively exploring other investment opportunities. Morocco's tourism sector has shown strong performance, generating approximately $6 billion in revenue during the first seven months of 2024, with the number of tourists expected to exceed 15 million by the end of the year.
The question is, why don't we attract such investors in Tunisia? The answer is that our tourism is mass-oriented and high-end units are rare. Therefore, we need to focus on this type of unit to make our tourism more attractive. This will enable us to improve overall revenue and inject, over time, a dynamic into a sector that suffers from a lack of investment.
