Club Med will sign tomorrow, Monday, October 19 in Marrakech, an important memorandum of understanding with the CDG Group via its investment fund MADAËF, which owns the walls of the French group’s hotels in Morocco. Between the construction of a new village in Essaouira, the extension of the Marrakech Club and the renovation of the Yasmine Cabo Negro, the world leader in all-inclusive services wants to better position its clubs in the premium.
Club Med is showing its ambitions for Morocco where it is looking bigger for its development which will continue to be done with CDG, its historic partner. The French travel club seals tomorrow, Monday, October 19 in Marrakech, an important agreement with the CDG Group through its subsidiary MADAËF which owns the walls of all the hotel units bearing the Club Med brand in Morocco. In addition to Henri Giscard d’Estaing, CEO of Club Med who will make the trip to the ocher city, several personalities including Nadia Fettah Alaoui, Minister of Tourism, Karim Kassi Lahlou, Wali of the Marrakech-Safi region, Abdellatif Zaghnoun, CEO of the CDG Group, Mamoun Lahlimi, CEO of MADAËF and Adel El Fakir, CEO of ONMT, will be present at the signing ceremony of the memorandum of understanding. Basically, it involves the construction of a new Club Med Village in Essaouira, the extension of the Club de Marrakech as well as the renovation of Yasmine Cabo Negro, on the heights of Tetouan.
According to a source close to the world leader in all-inclusive, Club Med not only wants to strengthen its foothold in the national tourism scene by going from three to four sites, but it also wants to upgrade its establishments. “This move upmarket is part of the kingdom’s strategy for quality tourism, which is part of an overall development dynamic”, adds our source. As for the CDG subsidiary, which has one of the most important tourism portfolios in Morocco, it is with great interest that we support this premium positioning of Club Med hotels. Created in 2006, MADAËF absorbed in 2017 the Société Immobilière de la Mer (SIM), a subsidiary of the CDG subsidiary which manages Club Med hotels in Morocco. It should also be remembered that SIM was originally a historic subsidiary of Club Med to which the CDG group invited itself in 2005 on the occasion of a series of asset contributions. Taking advantage of Club Med’s desire to refocus globally on the management of hotel units (by offloading the walls of its hotels to specialized investors), the Moroccan public group has gradually gained a stake in SIM by becoming its owner in 2012 after the purchase of the residual participation of Club Med and the shares of the European Investment Bank which had injected some MAD 50 million in 2005. Today, MADAËF has in its tourism portfolio several flagships including Globalia Saïdia, Club Med Agadir, Club Med Marrakech, Club Med Yasmine Cabo Negro, Méridien NFIS Marrakech, Pullman El Jadida (operated by AccorHotels) and Club Issil Marrakech.