Materialized by an agreement signed between the Ministry of Tourism, Crafts, Social and Solidarity Economy, the Delegated Ministry in charge of the Budget, the Mohammed VI Fund for Investment and the Moroccan Society of Tourism Engineering ( SMIT), this strategic operation introduces a unique support and financing mechanism called “ Cap Hospitality » which aims to accelerate the upgrade of Classified Tourist Accommodation Establishments (EHTC) with a target objective of 25,000 rooms and an expected impact of a maximum of 4 billion dirhams of investment.
Cap Hospitality represents a decisive step towards the modernization of Morocco’s accommodation capacity, in response to the continued increase in tourist arrivals and in view of upcoming sporting events such as CAN 2025 and the 2030 World Cup, for which Morocco aspires to offer impeccable quality hospitality.
Covering the period 2024-2025, this unique system provides for the granting of a credit where the State takes charge full interest, for the benefit of EHTCs with an upgrade project. This loan covers all investments ranging from 3 to 100 million dirhams, with a maturity of up to 12 years including 2 years of deferral. The eligibility of EHTCs will be confirmed by the Ministry of Tourism, Crafts, Social and Solidarity Economy and SMIT, based on pre-established criteria. The agreement on the joint credit, for its part, will be confirmed by the banks.
It should be noted that several regions include a significant number of dilapidated or even closed tourist accommodation units, a situation which negatively impacts the attractiveness of the destination, whether for tourists or investors. The upgrade of the hotel park has thus been placed as a strategic project of the 2023-2026 roadmap in terms of tourist offer.
« Cap Hospitality » is aimed at all EHTCs in the Kingdom that have not been renovated in the last five years. It covers a wide range of services, including renovation and compliance work, the acquisition of furniture and equipment, the acquisition of an EHTC coupled with a renovation program, the implementation of an energy efficiency program, etc.
This mechanism represents a unique and time-limited opportunity for EHTCs, which allows them to modernize their infrastructure and prepare to welcome the world during the next major international sporting events. This approach will also help them improve the quality of accommodation in order to comply with Law 80-14 which is currently in an advanced phase, particularly in terms of classification.
EHTCs wishing to benefit from this mechanism will be able to submit their eligibility request via the dedicated digital platform https://smit.gov.ma/caphospitality, which will be put online on July 15, 2024.
The official launch ceremony of the mechanism was organized in Rabat this Wednesday, June 26, 2024 in the presence of Fatim-Zahra Ammor, Minister of Tourism, Handicrafts and Social and Solidarity Economy, Fouzi Lekjaa, Minister Delegate in charge of the Budget, Mohcine Jazouli, Minister Delegate in charge of Investment, Convergence and Evaluation of Public Policies, Mohammed Benchaaboun, Director General of the Mohamed VI Investment Fund, Imad Barrakad, Director General of the Moroccan Society of Tourist Engineering, Hamid Bentahar, President of the National Confederation of Tourism and Lahcen Zelmat, President of the National Federation of the Hotel Industry.
