Tourism: A Global Demand of 7 Billion Dirhams for the Cap Hospitality Program

On November 3, Fatim-Zahra Ammor, the Minister of Tourism, Handicrafts, and Social and Solidarity Economy, held a working meeting with key stakeholders, including Nezha Hayat, Director General of the Mohammed VI Investment Fund, and executives from major banks. The meeting focused on the progress of the Cap Hospitality program and explored ways to enhance the renovation of hotel facilities across the Kingdom. The Minister expressed gratitude to all partners for their efforts in implementing the program and highlighted the remarkable performance of the tourism sector, which welcomed 15 million tourists and generated 100 billion dirhams in foreign currency revenues by the end of September. Ammor emphasized Morocco's strong appeal to investors, noting that 43,000 new beds have already been created as part of the tourism roadmap for 2023-2026. She reiterated that Morocco's competitiveness relies not only on accommodation capacity but also on the quality of the tourism offering, underscoring the importance of the Cap Hospitality program as a key lever for modernizing and upgrading the national hotel stock. Currently, Cap Hospitality has recorded 91 eligible requests, representing 14,000 rooms and a total investment of 7 billion dirhams, with around sixty projects already approved. These results reflect the collaborative efforts of the Mohammed VI Investment Fund, partner banks, and the Ministry. The Minister stated, "Cap Hospitality illustrates the strength of public-private partnerships in the tourism sector. Together, we ensure that mobilized funding effectively and swiftly supports the renovation of the hotel stock and the competitiveness of various regions in Morocco." Participants reaffirmed their shared commitment to accelerating the implementation pace while ensuring efficient processing of requests. Discussions also highlighted several improvement avenues for the program, which will facilitate quicker and more effective handling of applications. Cap Hospitality is an unprecedented initiative launched by the Moroccan government as part of the tourism roadmap for 2023-2026. It is spearheaded by the Ministry of Tourism, Handicrafts, and Social and Solidarity Economy, in partnership with the Ministry Delegate in charge of Budget, the Mohammed VI Investment Fund, and the Moroccan Society of Tourism Engineering (SMIT). The program aims to support the upgrading and modernization of classified tourist accommodation establishments (EHTC) through a favorable financing mechanism where the state covers all interest on loans.