Spanish lodge corporations develop in Morocco to benefit from the tourism increase | Business | EUROtoday

Get real time updates directly on you device, subscribe now.

The massive Spanish lodge corporations have put Morocco within the highlight. Large chains similar to Barceló, Riu, Iberostar and Meliá have chosen the North African nation lately to proceed rising within the face of excessive competitors in Europe, Asia and America, and benefit from the tourism increase in Morocco, which hopes to interrupt its vacationer file this yr. overseas. These 4 corporations now have 18 working accommodations and plan to proceed rising in that market.

Morocco is offered as a secure vacation spot, each from a political and social standpoint, in comparison with different international locations within the area, similar to Tunisia or Egypt. In the primary 11 months of 2023 (newest information obtainable), it acquired 13.2 million vacationers, exceeding the statistics recorded in the entire of 2019, earlier than the pandemic, when it acquired 12.9 million vacationers. And it expects to have closed 2023 with 14 million overseas guests, in accordance with estimates by the Ministry of Tourism, regardless of the earthquake that primarily affected Marrakech and the High Atlas, probably the most touristy a part of the nation. The disaster, the second largest earthquake in its historical past, left nearly 3,000 lifeless and 300,000 homeless. However, it has not considerably brought about reservation cancellations. The determine of 14 million is way from the 83 million vacationers with which Spain expects to have closed the yr, nevertheless it represents a really enticing market with progress potential for lodge corporations.

One of the businesses that’s betting the toughest is Barceló. The Mallorcan household group has eight accommodations managed in six cities – Rabat, Casablanca, Marrakech, Tangier, Fez and Agadir – with greater than 1,600 rooms and 1,200 direct jobs. Company sources clarify that they landed within the nation in 2006 and hope to include new accommodations, primarily 4 and 5 stars, each within the trip and concrete segments.

Its newest operation may be very current: in October the group introduced an funding of greater than 80 million euros within the acquisition and subsequent renovation of two five-star accommodations in Casablanca and Rabat, till then operated by the Farah model. “We are a family business that seeks to have a balance between ownership, management and rental. We look for solidity, long-term investments, with our vision set on permanence and not on maximizing investment in the short term. That is why, in certain destinations where we prefer to buy hotels, growth is slower,” they clarify in Barceló.

As for Riu, it landed in 2002 with the Moroccan group Tikida as a accomplice. Together they opened two first accommodations within the city of Agadir, which at the moment proceed to function alongside the Riu Palace Tikida Agadir. In addition, they’ve two extra institutions in Marrakech and one other in Taghazout. “These six hotels are the result of a strong alliance that lasts more than 20 years,” the corporate explains.

In 2023, Riu had a “very positive” stage of reservations and occupancy, with an occupancy price of greater than 87%, above 2019, regardless of the earthquake suffered in Marrakech in September. The forecasts for the start of 2024 are alongside the identical traces and count on to obtain new vacationers because of the opening of recent airways, significantly these from the Baltic international locations and Italian ones.

They are additionally optimistic at Iberostar. The lodge chain at the moment has three accommodations in Morocco, with 1,273 rooms. The firm states that it has recorded a really constructive evolution of this vacation spot for the reason that finish of the pandemic: it expects to shut 2023 with an upward end result and its forecasts for 2024 additionally level to an upward pattern. “We identify even more growth potential due to an increase in demand, especially in source markets such as the United Kingdom, Germany and France,” they clarify. “We observe a determined commitment to the tourism sector in the country, with effective measures to encourage the tourism industry and the end customer to bet on Morocco.”

For its half, Meliá has a lodge, in Marrakech, with good forecasts additionally for 2024. The Mallorcan chain is in search of alternatives within the nation and, though it doesn’t have any closed tasks, firm sources affirm that there are a number of tasks on the desk that they’re evaluating. “Our will is to grow in the country,” they are saying. Not solely massive chains are current in Morocco. For instance, the Inveravante group, owned by the Jove household, has 5 accommodations in Tangier and Casablanca operated by Four Seasons, Pestana and Hilton.

European tourism

The vacationers who come to Morocco are primarily European, 70% of the whole, particularly from France and Spain. But the inflow of different international locations is rising, similar to Israel, which in 2020 established diplomatic relations with Rabat and agreed to introduce direct flights. The enhance that the Moroccan Government desires to provide to tourism is proving key, in accordance with the businesses. The Management Deposit Fund is the general public physique that allocates a part of its funding to accommodations, whereas the Moroccan National Tourism Office is enterprise a number of actions to assist the tourism trade with subsidies granted to a number of airways to strengthen connections domestically. and worldwide. In addition, investments are being made to renovate some historic locations.

The ambitions of Spanish corporations in Africa transcend Morocco. In the final two years, Barceló has opened new accommodations, each in North Africa and the Middle East. Currently, the household chain manages 20 accommodations in 5 international locations: along with Morocco, in Tunisia, Egypt, the United Arab Emirates and Oman. And it plans to proceed rising on this geographical space, with doable tasks in Qatar and Saudi Arabia. Riu has additionally made a powerful dedication to Africa. In 2022 it opened its first lodge in Senegal and hopes to open extra, as occurred in different locations on that continent, similar to Cape Verde. In addition, this previous 2023 it offered its second lodge in Zanzibar. Currently, it has a complete of 15 accommodations in Africa: six in Morocco, two in Tanzania, one in Senegal and 6 in Cape Verde. For its half, Iberostar has six accommodations in Tunisia, whereas Meliá has one other three in Tanzania.

Follow all the knowledge Economy y Business in Facebook y Xor in our publication semanal

The Five Day agenda

The most essential financial quotes of the day, with the keys and context to know their scope.


Subscribe to proceed studying

Read with out limits