Pickalbatros targets Morocco expansion: Egypt-based hotel owner and operator Pickalbatros Hotels & Resorts Group will invest USD 140 mn in Morocco over the next two years, Asharq Business reports, quoting company CEO and chair Kamel Abou Aly. The company wants to raise its hotel capacity by 43% to 2k rooms, and is eyeing expansion in Agadir in particular, he said.

ICYMI- Pickalbatros is expanding here, too: The company’s new 200-room, EGP 400 mnLaguna Club Hotel in Sharm El Sheikh is due to open in November, while the 840-room Portofino Marsa Alam should also open its doors within the next few months, Abou Aly said last month. The company has also said it will use part of the proceeds from the recent EGP 750 mn sale and leaseback of its Laguna Vista Beach Resort in Sharm El Sheikh to Beltone to fund expansion.

About Pickalbatros: The company runs some 25 hote ls with more than 14k rooms in total here, and three hotels with 1.4k rooms in Morocco.

Remember: Another industry veteran is making a big play in Morocco. Samih Sawiris is reportedly partnering with local and Emirati players to invest as much as MAD 4 bn(USD 390 mn) to redevelop the Mogador resort in Essaouira. Like Egypt, the country is experiencing a boom in tourism as the sector bounces back from the pandemic.

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