Egyptian Pickalbatros Hotels & Resorts group has secured $250 million in financing from the IFC, part of the World Bank Group, and Attijariwafa ban. The deal, signed in Marrakech on 15 October 2026, was described as the largest IFC-backed hotel financing in Morocco’s history.
The funds will go towards acquiring hotels, expanding the portfolio and upgrading properties in Casablanca, Marrakech and Agadir. They will first support two recent acquisitions in Casablanca, the Sofitel Casablanca Tour Blanche and the Mövenpick Hotel Casablanca and their renovation.
The group has added more than 1,400 rooms in two years and now has over 2,700 rooms across nine hotels. It aims to reach 7,000 rooms by 2030.
The agreement was signed by Kamel Abou Aly, Pickalbatros founder and chairman, Moustafa El-Shenety of Zilla Capital, David Tinel, head of the IFC in Morocco, and Mohamed Redouane El Alj of Attijariwafa bank.
Abou Aly said the financing will bring foreign currency and capital into the sector, adding that “competition creates quality”. The IFC expects the deal to generate about 7,500 direct and indirect jobs. Dakhla, Abou Aly said, is a long-term hope for the group.
The deal was signed on the background of Morocco’s record 19.8 million tourists in 2025 and its goal of 26 million visitors by 2030, the year it co-hosts the FIFA World Cup with Spain and Portugal.