Morocco’s hospitality sector just got a major boost from a German tourism company.
Moroccan hospitality chain Atlas Hospitality and FTI Group, the fourth-largest tour operator in Germany, have formed a joint venture to invest $108 million in the Moroccan hospitality industry. According to the Morocco World News report, the venture will be overseen by the Moroccan Ministry of Tourism, which is working on a plan to boost sector growth by 2020.
The partnership aims to “build a minimum of four new hotels in the next two years.” Some currently operating hotels are also expected benefit from this partnership, including the Atlas Targa Club, the Idrissides Urban Club and the Dunes d’Or Beach Club in Agadir.
The investment could prove beneficial to all parties. Last year saw a a 2.8 increase to the tourism sector—but that increase was lower than expected by international and national experts alike.