Pickalbatros Secures $250 Million to Develop and Modernize Its Hotels in Morocco
Pickalbatros Hotels & Resorts Secures $250 Million Financing Agreement for Expansion in Morocco
On Thursday, October 15, 2026, in Marrakech, the hotel group Pickalbatros Hotels & Resorts finalized a $250 million financing agreement with the International Finance Corporation (IFC), a member of the World Bank Group, and Attijariwafa Bank. This funding aims to support the expansion and modernization of the group’s hotel portfolio in Morocco.
Described as the largest hotel financing operation backed by the IFC in the history of the Kingdom, this funding will specifically facilitate the acquisition of new properties, the renovation of existing hotels, and the development of new facilities primarily in Casablanca, Marrakech, and Agadir.
The financing will support several recent acquisitions by the group, including the Sofitel Casablanca Tour Blanche and the Mövenpick Hotel Casablanca. It will also cover renovation projects for these two establishments, as well as updates to its hotels in Marrakech and Agadir.
This deal comes as Pickalbatros strengthens its presence in the Moroccan market. Over the past two years, the group has added more than 1,400 rooms to its portfolio, increasing its total capacity to over 2,700 rooms across nine hotels.
In addition to expanding its network, the group also plans investments aimed at enhancing the environmental performance of its properties. These efforts include improving energy and water efficiency, reducing the environmental footprint, and adopting international standards for green building and sustainable tourism.
According to project officials, this operation is expected to generate around 7,500 direct and indirect jobs, further boosting the economic impact of the hospitality sector and its role in the Kingdom’s tourism development.
This partnership comes amid a resurgence in tourist activity in Morocco, which welcomed 19.8 million tourists in 2025. The Kingdom aims to reach 26 million visitors by 2030, coinciding with the FIFA World Cup jointly hosted with Spain and Portugal.
Through this funding, Pickalbatros intends to support the growth in demand for quality accommodations, while the IFC and Attijariwafa Bank continue to enhance their support for tourism investments in Morocco, a sector viewed as a key driver for economic growth and job creation.
