In a significant move to enhance the standards of classified tourist accommodations (EHTC) in Morocco, a new support and funding mechanism called “Cap Hospitality” was unveiled on Wednesday in Rabat. This initiative was launched with the presence of several ministers and high-ranking officials.
“Cap Hospitality” is the result of a collaborative agreement between the Ministry of Tourism, Handicrafts, and Social and Solidarity Economy; the Ministry of Finance’s Budget Department; the Mohammed VI Fund for Investment (FM6I); and the Moroccan Agency for Tourism Development (SMIT). The program aims to upgrade 25,000 rooms and is expected to attract up to 4 billion dirhams (MMDH) in investments.
This initiative is a pivotal step towards modernizing Morocco’s accommodation capacity, addressing the growing influx of tourists, and preparing for upcoming major events like the 2025 Africa Cup of Nations (CAN) and the 2030 FIFA World Cup. Morocco is determined to provide top-notch hospitality for these events.
Running from 2024 to 2025, “Cap Hospitality” offers a state-subsidized credit scheme where the government covers all interest charges for EHTCs undertaking upgrade projects. The loans range from 3 to 100 million dirhams (MDH) with a maturity period of up to 12 years, including a two-year grace period.
Eligibility for the program will be determined by the Ministry of Tourism and SMIT based on predefined criteria, with the loan agreements being confirmed by participating banks.
Tourism Minister Fatim-Zahra Ammor emphasized the urgency of accelerating investments in tourism accommodations, highlighting that this initiative provides a unique opportunity to modernize facilities, enhance services, and incorporate advanced technologies to create memorable experiences for visitors.
Fouzi Lekjaa, the Minister Delegate in charge of the Budget, stressed the importance of preparing and investing in infrastructure, including enhancing hotel capacities to meet the demands of the 2030 World Cup.
Mohcine Jazouli, the Minister Delegate in charge of Investment, Convergence, and Evaluation of Public Policies, underlined the critical role of the tourism sector in achieving national goals. These include securing 550 MMDH in investments and creating 500,000 jobs by 2026 as part of the new Investment Charter.
FM6I Director General Mohamed Benchaaboun noted that this initiative goes beyond superficial improvements, aiming for a profound transformation through a combination of state and banking interventions. The state plays a crucial role by covering all interest on the loans.
“Cap Hospitality” targets EHTCs across Morocco that have not been renovated in the past five years. It encompasses a wide range of services, including renovation and compliance work, acquisition of furniture and equipment, purchasing EHTCs coupled with renovation plans, implementing energy efficiency programs, and more.
EHTCs wishing to benefit from this program can submit their eligibility applications via the dedicated digital platform, https://smit.gov.ma/caphospitality, which will be available from July 15, 2024.
