Company seeking financing for buying a 4* Hotel in Marrakech, Morocco.
We are a company established in Morocco. We are currently seeking 100% financing for the buying and restoration of a 4* Hotel in the touristic city of Marrakech.
The Hotel is built on a 1.5 Hectare land (15 000 m2), it is in the heart of the city and 10 mn away from the airport. It has 89 rooms( extensible to 150)/restaurant/lounge bar/night-club/SPA-fitness/swimming pool/points of sale/parking.
It needs a complete restoration and redesign to modern standards.
We need $22.000.000 : $ 10.000.000 for land +building acquisition and $12.000.000 for complete restoration/design/equipment/furniture .
Rooms will be priced $90-$130/ night. Workforce will be 60-70 people.
Average yearly occupancy rate is expected to be 70%.
We are asking for a 6 months loan grace period and are seeking a 12-15 years term. Building and Land as collaterals
Please feel free to contact me for any additional information you might need.
Thank you.
Rachid El Atlassi
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