Egyptian tycoon behind nine Moroccan hotels lands $250 million package for acquisitions, upgrades and debt refinancing

Egyptian hotel tycoon Kamel Abou Aly’s Pickalbatros Hotels & Resorts has secured a $250 million financing package from the International Finance Corporation and Attijariwafa bank, its transaction adviser announced. The package supports the group’s growing Moroccan business, combining hotel acquisitions and property…