Hotel investment in Morocco soars ahead of 2030 World Cup

A recent report published on Monday by Tourism Review News revealed a sustained rise in hotel investment within Morocco over recent years.

This upward trend is anticipated to continue in the coming years, fueled by the country’s co-hosting role alongside Spain and Portugal for the 2030 FIFA World Cup. https://www.tourism-review.com/morocco-expects-increased-hotel-investment-news14552

The same report mentioned that Morocco opened a whopping 135 new hotels in 2023, with a total investment of $780 million.

Also, it said that starting in 2012 with 64,400 rooms, Morocco’s classified hotel capacity nearly doubled by 2022, reaching 121,000, despite the pandemic disruptions.

This building boom is expected to continue as the country gears up for the massive influx of visitors expected for the prestigious 2030 World Cup as well as the 2025 African Nations Cup.

Industry analysts also underscored that further growth in hotel investment in Morocco is necessary, despite these positive figures.

However, optimism prevails due to the potential for significant development, said the report, particularly with the implementation of government programs like the Investment Charter, Go Tourism, and the recently launched Cap Hospitality initiative.

Through the said programs, the government plans to offer tourist accommodation companies seeking to refurbish their facilities the possibility to benefit from interest-covered loans.

These loans are designed to cover a wide range of investment needs, from $290,000 to $10 million, with flexible repayment periods of up to 12 years.

For this reason, the report predicts that a double-digit increase in hotel investment by the year’s end.

In addition, the report mentioned that Morocco’s tourism industry has experienced a positive start to 2024, welcoming 7.4 million tourists in the first half of the year, a 14% increase compared to the record-breaking 14.5 million visitors received in 2023.

However, to capitalize on this and achieve its ambitious target of attracting 26 million foreign tourists by the end of the decade, experts emphasized the need for a significant increase in hotel investment.

Analysts suggested a minimum of a 15% growth in hotel investment this year to further strengthen Morocco’s appeal as a tourist destination.

The report mentioned that Spanish hotel groups such as Barceló, RIU, Iberostar, and Meliá, already managing 18 hotels in Morocco, are expanding further due to Morocco’s booming tourism.

It added that the Hotusa group plans to open three new hotels by 2026; Eurostars Casa Anfa in Casablanca by next autumn, Eurostars California, and X-Zarqtoni between late this year and mid-next year.

These hotels will add 251 rooms, enhancing the region’s tourism appeal. The US-based Radisson Group also aims to increase its Moroccan hotels to 25 by 2030.