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Fez – Egyptian hospitality group Pickalbatros Hotels & Resorts is preparing a major expansion in Morocco through a planned investment package led by the International Finance Corporation (IFC), the private-sector arm of the World Bank Group.
The proposed financing includes up to $165 million from IFC and could eventually increase to $300 million.
The funding will support the company’s growth strategy in Morocco, where it already operates through four subsidiaries across key tourism destinations including Marrakech, Agadir, and Casablanca.
The investment forms part of a broader project valued at $386 million.
The package combines $86 million in equity with long-term financing designed to strengthen the group’s financial position while supporting its expansion plans in the Moroccan market.
The funding will be used to acquire new assets, modernize existing properties, and refinance parts of the company’s portfolio.
The move reflects growing investor confidence in Morocco’s tourism industry, which continues to attract regional and international hospitality groups seeking opportunities in one of North Africa’s most dynamic travel markets.
Beyond expanding its hotel network, Pickalbatros is also expected to focus on sustainability.
The financing structure includes sustainability-linked targets aimed at improving energy efficiency and reducing water consumption across its operations.
IFC will also provide advisory support to help the group strengthen environmental, social, and governance (ESG) practices and advance its readiness for green certification standards.
If approved, the project could further position Pickalbatros as a leading regional player in sustainable tourism while contributing to Morocco’s efforts to attract long-term investment into the hospitality sector.
The expansion is also expected to generate economic benefits through job creation, stronger tourism-related supply chains, and increased investment activity in some of the country’s most important tourism hubs.
Investments of this scale are playing a crucial role in supporting the sector’s long-term growth and competitiveness while Morocco is expanding its tourism ambitions and attracting record visitor numbers.
