Morocco is planning a significant expansion of hotel capacity in preparation for hosting the 2030 FIFA World Cup.
Published by Morocco World News. Global Real Estate Intelligence links to the original source and credits the publisher; all rights remain with them.
Morocco's state railway operator ONCF, which had held over 50% of La Mamounia -- Marrakech's storied 135-room, 71-suite luxury hotel -- sold its majority stake to state-owned phosphate group OCP for 1.7 billion dirhams ($173 million), retaining under 10%. OCP becomes the controlling shareholder, having previously held about 40%. The sale is part of Morocco's broader divestment of non-strategic government assets while keeping the hotel under Moroccan ownership; La Mamounia posted MAD 226 million ($23 million) in net profit the prior year.
KKR and AEW Capital Management seek to sell commercial property holdings in China as global investors continue to retreat from the country’s prolonged real estate downturn, Bloomberg News reported. KKR is marketing nine properties across China, including a high-end apartment complex in suburban Beijing and a hotel…
The myriad headwinds facing New York City hotel investors just got even stiffer. The Big Apple’s hospitality industry confronted rising operating and borrowing costs from persistent inflation in recent years that was further compounded by a big drop in international tourism since President Donald Trump assumed…
Der Hotelkonzern MHP hat seinen Umsatz im zweiten Quartal um gut ein Viertel im Vergleich zum Vorjahreszeitraum erhöht. Dazu trug nicht zuletzt die Erweiterung des Portfolios bei.
When he isn’t home tending to his alpacas — yes, he has alpacas — Craig Deitelzweig, the chief executive officer of owner Marx Realty, is working out ways to beautify the company’s office portfolio, intent on making where people go to work a destination, not a chore. Deitelzweig, a former lawyer who graduated from…
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