Arab Finance: Pickalbatros Group is planning to invest $140 million in Morocco within two years, the group’s Chairperson Kamel Abou Ali told Asharq Business on September 19^th.

The investment aims to increase the company’s hotel capacity in Morocco by about 43% to 2,000 hotel rooms from 1,400 now, Abou Ali noted.

The group is mulling over directing investments specifically to Agadir within the framework of the great promotion for tourism in Morocco, which the country witnessed during the first half of 2023, he added.

Pickalbatros owns and manages more than 25 hotels in Egypt with a hotel capacity of more than 14,000 rooms, in the cities of Hurghada, Sharm El-Sheikh, and Marsa Alam.

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