Rabat – Egyptian hospitality group Pickalbatros Hotels & Resorts is set to accelerate its expansion in Morocco through a major financing partnership with the International Finance Corporation (IFC), the private-sector arm of the World Bank Group.
The IFC plans to mobilize up to $200 million to support Pickalbatros’ 2026–2029 investment program in Morocco, focused on acquiring, renovating, and modernizing hotel assets across Marrakech, Agadir, and Casablanca.
Founded in 1992 by Egyptian businessman Kamel Abou-Ali, Pickalbatros Hotels & Resorts has grown into one of Africa’s leading hospitality groups, operating more than 35 hotels and resorts across the continent. The company currently manages seven properties in Morocco alongside its extensive portfolio in Egypt.
The Moroccan investment program is estimated at $350 million in total.
According to the proposed structure, the IFC would provide a senior loan package of up to $200 million, including a $160 million A-loan directly financed by the institution and a $40 million B-loan syndicated through partner lenders. Pickalbatros would contribute the remaining $150 million through equity financing.
The strategy reflects Morocco’s growing appeal as a regional tourism and investment hub ahead of major international events and the country’s broader tourism expansion ambitions.
The investment plan includes the acquisition of two hotel properties valued at approximately $125 million, while another $105 million will be allocated to renovation, modernization, and sustainability upgrades for newly acquired assets.
In parallel, $65 million will fund the environmental transition and operational improvement of existing Pickalbatros hotels in Morocco.
An additional $55 million will be used to refinance part of the group’s medium-term local debt with longer-term and more sustainable financing solutions.
Sustainability remains central to the partnership. The renovation works are expected to improve both energy and water efficiency across the hotels, aligning with the IFC’s climate-focused investment priorities and Morocco’s increasing push toward greener tourism infrastructure.
Beyond financing, the IFC also plans to support Pickalbatros in strengthening its environmental and governance standards through the development of a comprehensive Sustainability Framework and the implementation of international environmental certifications for selected properties.
The institution believes the project could generate broader economic benefits for Morocco, including job creation, increased local sourcing, higher value creation, and stronger links with supporting industries tied to tourism and hospitality.
The operation is also expected to contribute to the growth of green and blue tourism finance in Morocco by attracting additional international and domestic investors into sustainable hospitality projects.
