{"id":606782,"date":"2023-09-21T00:00:00","date_gmt":"2023-09-21T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/09\/21\/pickalbatros-to-invest-usd-140-mn-in-morocco\/"},"modified":"2023-09-21T00:00:00","modified_gmt":"2023-09-21T00:00:00","slug":"pickalbatros-to-invest-usd-140-mn-in-morocco","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/09\/21\/pickalbatros-to-invest-usd-140-mn-in-morocco\/","title":{"rendered":"Pickalbatros to invest USD 140 mn in Morocco"},"content":{"rendered":"

Pickalbatros targets Morocco expansion: <\/strong>Egypt-based hotel owner and operator Pickalbatros Hotels & Resorts Group will invest USD 140 mn in Morocco over the next two years, Asharq Business<\/a> 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. <\/p>\n

ICYMI- Pickalbatros is expanding here, too: <\/strong>The company\u2019s new 200-room<\/a>, 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<\/a> of its Laguna Vista Beach Resort in Sharm El Sheikh to Beltone to fund expansion. <\/p>\n

About Pickalbatros: <\/strong> The company runs some 25 hote<\/a> ls<\/a> with more than 14k rooms in total here, and three hotels with 1.4k rooms in Morocco. <\/p>\n

Remember: Another industry veteran is making a big play in Morocco. <\/strong>Samih Sawiris is reportedly partnering with local and Emirati players to invest as much as MAD 4 bn<\/a>(USD 390 mn) to redevelop the Mogador resort in Essaouira. Like Egypt<\/a>, the country is experiencing a boom in tourism as the sector bounces back from the pandemic. <\/p>\n","protected":false},"excerpt":{"rendered":"

The company will raise its hotel capacity in Morocco by 43%<\/p>\n","protected":false},"author":1,"featured_media":606783,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7272],"tags":[72,955,125,316,2475],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-606782","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-enterpriseam","tag-hospitality","tag-investment-watch","tag-morocco","tag-pickalbatros","wpautop","entry"],"acf":{"mongo_id":"a7622f25-be17-4682-bff8-f9f2cb278e12","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/9\/1309.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt-based Pickalbatros Hotels to invest USD 140 mn in Morocco within 2 years","related_issue":[606771],"teaser":"The company will raise its hotel capacity in Morocco by 43%","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/9\/.f62828ce-440b-401c-b0be-c78f23e7a28a.mp3"},"yoast_head":"\nPickalbatros to invest USD 140 mn in Morocco - 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Although Abou Ali did not disclose the total investment value for the projects, he did say that the cost per room is USD 80-120k.\u2026","rel":"","context":"In "Tourism"","block_context":{"text":"Tourism","link":"https:\/\/enterpriseam.com\/egypt\/category\/data\/tourism\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/9\/394.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":643928,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/17\/local-hospitality-player-pickalbatros-expands-across-morocco\/","url_meta":{"origin":606782,"position":2},"title":"Local hospitality player Pickalbatros expands across Morocco","author":"enterpriseam admin","date":"17 September 2024","format":false,"excerpt":"Good afternoon, friends. The day is off to a calmer than usual start as we start counting down to the weekend. 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