Jones Lang LaSalle Hotels has sold the Hilton Rabat in Morocco for around U$89m (£43m) to Risma Holding in the country’s largest ever single hotel deal.
Risma Holding is a publicly listed company on the Casablanca stock market. The five-star Hilton hotel is built on nine hectares of land and has 269 rooms, 20 bungalows, six restaurants and 2065 sq m of meeting space. It has an open-air swimming pool, spa, fitness club, four tennis courts, and a golf driving range.
Gabriel Matar, senior vice-president at Jones Lang LaSalle Hotels, who led on the transaction said: ‘This sale illustrates the strong investor interest in the hotel and leisure real estate market in Morocco - which is a priority sector for the Moroccan government. The transaction also acknowledges the success of the country’s improved development policies, especially through its 2010 Plan Azur and confirms the continuous interest of international and national investors in Morocco.’