Tuesday , October 26 2021

Morocco: the government wants to privatize the La Mamounia mythical hotel


The legendary palace "La Mamounia", which has hosted since 1922 stars from around the world in the heart of Marrakech (south), the tourist capital of Morocco, was registered Thursday on the official list of public companies that can be privatized from 2019.

The Governing Council has approved the bill on privatization companies where the big hotel is, according to an official statement. Text still needs to be approved in Parliament.

Owned mainly by the National Railways Office (ONCF), La Mamounia has been hosting since the opening of many celebrities: Winston Churchill (involved in painting), Ronald Reagan, Jacques Chirac, Orson Welles, Nelson Mandela, Hillary Clinton, Elton John …

The famous palace, which has around 200 rooms and suites, has also been used for filming, such as Alfred Hitchcock's "The Man Who Knew".

La Mamounia was closed in 2006 for major renovations and furnishings, Art Deco, Spanish-Moorish or French classics, sold at auction. Luxury hotels reopened three years later.

Moroccan Economy Minister Mohamed Benchaaboun announced at the end of October a series of privatizations for 2019. The operation was expected to bring 10 billion dirhams (920 million euros), according to the trade press.

Like La Mamounia, the Tahaddart thermal power plant is on the list of privatization companies. With a power of 384 MW, the plant is located near Tangier (north) managed by a company owned by 48% by the ONEE public group, 32% by the Spanish Generación Endesa and 20% by Germany Siemens Project Ventures.

Since the launch of the first privatization program in 1993, 77 companies have been sold in whole or in part to the private sector with a total of more than 103 billion dirhams (around 9.5 billion EUR).


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