The hotel is located at the very center of Marrakech, only 10 minutes away from the medina and the famous Jemaa el Fna place, in the area most appreciated by international tourists. It is currently doing well and has a beautiful mixed architecture, taking the best of both modern and traditional architectures, along with a large garden and a large, beautiful swimming-pool. Here is a summary of the technical details :
-187 rooms – 4 suites – 36 bungalows – 16 duplex
-Swimming-pool,tennis court, Gym & SPA
-2 bars and 3 restaurants
-1 meeting facility
-land plot : 7166 sqm
-year of construction : 1980, last renovation 2005
It is really ready for business, the only thing it needs is a more aggressive marketing strategy. Yet the owner prefers to sell in order to be able to invest in new projects.
- Asking Price:
- $26,000,000 (USD) Furniture / Fixtures and Inventory / Stock included
- Sales Revenue:
- Undisclosed
- Cash Flow:
- Undisclosed
Property Information
- Real Estate:
-
Real Property Included
- Location:
-
Prime high street location
Business Operation
- Expansion Potential:
-
The opening to China with the removing of visa requirements for Chinese citizen, as well as the building of many new luxury malls, is a golden opportunity for the local market to drag more and more tourists from that emerging market. As the hotel is located in city center and hence close to the malls and main cultural attractions, it will be able to drag a good share of this new market.
- Competition / Market:
-
The 4-star market in Marrakech is currently growing and tends to be much more resilient than any other hotel market in Morocco. There are ongoing investments, but most of them are concentrated in the 5 star and luxury segments. Four star hotels in Marrakech keep overperforming all other types of hotels in terms of occupancy (10 points higher than 3 stars and 20 points higher than 5 stars.).
- Reasons for selling:
-
Strategic repositioning.
- Trading hours:
-
24/7 operation
Other Information
- Financing available:
-
50% financing available from partner bank.
