The mythical hotel La Mamounia, in Marrakech
The mythical hotel La Mamounia, in Marrakech, was listed Thursday on an official list of public companies that can be privatized from 2019.
Since 1922, the Mamounia welcomes stars from around the world in the heart of Marrakech. Mostly owned (62%) by the National Office of Railways (ONCF), the legendary palace has been listed since Thursday on an official list of public companies that can be privatized from 2019, thus confirming the rumor that had been going on for some time.
Intended to bail out the coffers of the kingdom, the operation should bring to Morocco 10 billion dirhams (920 million euros) according to the specialized press. However, the text still needs to be approved in Parliament.
Best hotel in the world according to Condé Nast.
Since the launch of the first privatization program in 1993, 77 companies have been wholly or partly transferred to the private sector, for a total amount of more than 103 billion dirhams (about 9.5 billion EUR).
A member of Leading Hotels, the prestigious establishment of 200 rooms and suites was closed in 2006 for major renovations and its furniture, Art Deco style, Hispano-Moorish or French classical, was sold at auction. The luxury hotel reopened three years later. Mamounia was named Best Hotel in the World by the American magazine Conde Nast Traveler who awarded its awards on October 9th.