CB Richard Ellis advised on the signing of an agreement which will drive Barceló Hotels & Resorts’ expansion in Morocco

CB Richard Ellis, the leading consultancy and real estate service provider in the world, has acted as intermediary in searching for an operator and negotiating management contracts for two new build hotels in Morocco for Actif Invest. Said buildings will house a total area of more than 90,000 metres squared and 500 rooms, they will be managed by the hotel chain Barceló Hotels & Resorts and will be marketed as 4 star hotels.

The signing of the agreement closes the deal between Barceló Hotels & Resorts and the Moroccan investment fund MSF (Maghreb Siyaha Fund), which specialises in the tourist sector and is managed by Actif Invest. The company is a subsidiary of FinanceCom. The construction of the properties will finish in 2010 and the first one will be located in the residential area of Zahrat Annakhil, in Marrakesh’s Palmeraie and the second in the seaside resort of Port Lixus, in Larache.

For Jorge Ruiz, CB Richard Ellis Spain’s National Hotels Director, “the wealth of knowledge about the current market and opportunities within the tourism sector on the part of the professionals working in our Casablanca (Morocco) office, as well as their involvement, were key factors in making the deal come to fruition. Having an office in Morocco, as part of the CBRE Spain office network, has allowed us to add value to the deal and contribute to Actif Invest’s investment objectives and to Barceló Hotels & Resorts growth in Morocco”.

CB Richard Ellis Spain’s Hotels department is part of CBRE’s international hotels platform, one of the top real estate consultancies for the hotels sector. CBRE Hotels offers sales advisory services, operator selection, valuation, financing, development and asset management for hotels. With its headquarters in London, the EMEA division of the company has offices in Ireland, France, Spain, Italy and Central and Eastern Europe. For more information visit www.cbrehotels.com.

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