CBRE Hotels establish Moroccan presence (Morocco)
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CBRE Hotels establish Moroccan presence (Morocco)
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Category: Africa Indian Ocean - Morocco - Industry economy
- Trends / Expert's advice
This is a press release selected by our editorial committee and published online for free on 2008-11-17
CBRE Hotels have created a team of hospitality consultants to focus on the booming
Moroccan hotel market.
The team, led by Tarik El Harraqui, is based in Casablanca and will be supported by the
CBRE Hotels EMEA team headquartered in London. The team will leverage off the existing
extensive international expertise CBRE Hotels has as well as the CBRE team in Morocco
who have established themselves as the only leading international consultant in the region.
Morocco is currently one of the best performing destinations for hotel and tourism. The
Moroccan government has put in place a specific program called “Vision 2010” that aims at
increasing the number of tourist arrivals to Morocco from 7.4 million tourists in 2007 to 10
million by 2010.
160,000 beds will be created (130,000 beds in sea tourist resorts and 30,000 beds in the
various cultural destinations of the country). This increase will allow the national capacity to
reach 230,000 beds.
Morocco offers several advantages for investors and hotel operators:
• The existing hotel market is under supplied
• Morocco is becoming a key MICE and leisure destination for Europeans
• Proximity to Europe, warm climate, beautiful landscape and 3,500 km of virgin coast
• Low construction cost, low labour cost, access to financing and tax incentives
CBRE Hotels Morocco is actively working on several assignments in market studies,
financial studies and valuations in significant resort projects that include several hotel
developments.
CBRE Hotels Morocco recently completed the search for an operator to manage two newly
built hotels in Morocco. The 4-star properties, comprising over 90,000m² and 500 bedrooms
will be managed by Barceló Hotels and Resorts. Barceló already operate one hotel in
Casablanca and continue their expansion plans throughout the region with this latest
addition to their portfolio.
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