As part of overhauling Morocco’s public enterprises and improving their finances, rail operator ONCF will give up its shares in epic Mamounia hotel to phosphates fertilizers producer OCF in a new alliance that also includes Hassan II fund for economic development.
Under this deal, the jewels of Morocco’s hotel industry will remain Moroccan. Besides Mamounia, the alliance covers Palais Jamai built in 1879 in Fez and the spectacular Michlifen in Ifrane in addition to Marchica Lagoon Resort in eastern Morocco.
The agreement means that there would be no privatization of Morocco’s most luxurious hotels after rumors that ONCF may sell its shares.
The partnership between the three Moroccan operators will enable a 100% Moroccan management of the mythical hotels offering prospects for their development and attractiveness.
Morocco received 12.3 million tourists in 2018 and expects to receive more in 2019 as it promotes the attractions in new markets in Europe and Asia.