JavaScript is disabled! Why you want to do so? Please enable JavaScript in your web browser!
The official launch ceremony of “Cap Hospitality” was held in Rabat this Wednesday, June 26, 2024.
It is a support and financing mechanism dedicated to the tourism sector which has just been launched following a partnership between the Mohammed VI Fund for Investment (FM6I), the Ministry of Tourism, Crafts and Social and Solidarity Economy, the Ministry of Economy and Finance and the Moroccan Society of Tourism Engineering (SMIT).
In a press release sent to Médias24, the Ministry of Tourism explains that it is “a major operation to improve the quality of tourist accommodation decided by the Government” and “in anticipation of major international sporting events that Morocco will host, such as the 2025 Africa Cup of Nations and the 2030 World Cup, and as part of the implementation of the 2023-2026 tourism roadmap.
A time-limited mechanism
And added, “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, for which Morocco aspires to offer impeccable quality hospitality.
It also addresses a major financing problem that the tourism sector faces with the banking sector.
« Cap Hospitality » 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.
The ministry explains that it is a time-limited mechanism, covering the period 2024-2025, for EHTCs, which allows them to modernize their infrastructure and prepare to welcome the world during the next major international sporting events.
A credit of up to 100 MDH
Concretely, for hoteliers, it is about benefiting loans for the benefit of EHTCs with an upgrade projectranging from 3 to 100 million dirhamswith a maturity of up to 12 years including 2 years deferredin which the State takes charge full interest.
The reimbursement of interest by the State will be made quarterly.
According to the Ministry of Tourism, 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.
“Cap Hospitality” is aimed at all EHTC in the Kingdom having not been renovated in the last five years. It covers a wide range of services, including renovation and upgrading work, the acquisition of furniture and equipment, the acquisition of an EHTC coupled with a renovation program, the implementation of a program energy efficiency, etc.
The Ministry of Ammor notes that “several regions include a significant number of tourist accommodation units dilapidated or even closed, 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.
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.
Do you have a real estate project in mind? Yakeey & Médias24 help you make it happen!
© Media24. Any reproduction prohibited, in any form whatsoever, without written authorization from the Société des Nouveaux Médias. This content is protected by law and in particular law 88-13 relating to the press and publishing as well as laws 66.19 and 2-00 relating to copyright and related rights.
