Africa -  Morocco - Casablanca

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HVS In-Depth Africa Hotel Valuation Index:   2021 | 2016 | 2015 | 2014

Morocco’s economy is stable, showing a constant 3% growth over recent years. Living standards and economic conditions are rising due to an improving business environment, investments into export-orientated industries, significant railway infrastructure projects and a gradual liberalization of the local currency.

Tourism represents a significant share of the economy and benefits from the efforts of the government to promote the destination to both corporate and leisure travelers. Tourist arrivals increased by 8.2% in 2018 compared to the year before, according to Trading Economics. One of the reasons was the relaxation of visa requirements for Chinese tourists three years ago, which has seen an increase of arrivals from 10,000 in 2015 to almost 180,000 last year.

Casablanca remains the international travelers’ hub in Morocco and the leading destination for business tourism and MICE in the country, which is reinforced by improving infrastructure. Mohammed V International Airport handled just over 43% of Moroccan international air traffic in 2018 and keeps the foreign investment sentiment high. The airport was improved in 2019 increasing capacity up to 14 million passengers. Tourists’ arrivals were up by 4% in 2018 when compared to 2017, supported by strong corporate activity. 2019 has suffered from a drop in MICE and corporate activity and the timing of month of Ramadan which was in a typically strong period for tourism. ONOMO Casablanca City Center announced the opening in March this year. Radisson Blu with 120 rooms is planned to open later this year.

After three years of strong performance, Casablanca shows a drop in both occupancy and rates in 2019, leading to a drop of 9.5% in values. This is mainly due to a drop in corporate activity and a 20% increase in supply. 2020 and 2021 have a better outlook in terms of performance and values.

Change In Value For Market:

Significant Value Increase: Greater than +10%
Moderate Value Increase: Between +3% and +10%
Stable Values: Between -3% and +3%
Moderate Value Decline: Between -3% and -10%
Significant Value Decline: More than -10%

For more information, please contact:

Rishabh Thapar, MRICS
[email protected]
  • +27 0 792790584 (m)