Hilton (NYSE:HLT) has signed a management agreement with an investment vehicle managed by Yamed Capital, one of Morocco’s leading real estate groups, to open a hotel under its lifestyle Canopy by Hilton brand. Plans for the 158-guestroom Canopy by Hilton Casablanca Les Arènes were unveiled live on yesterday’s grand premiere of Metropolitan Casablanca, a live online TV show about the vibrant, multi-faceted, avant-garde Casablanca – which featured an appearance by Jochem-Jan Sleiffer, president, MEA&T, Hilton.
Located in the so-called “golden triangle” of Casablanca, Morocco’s largest city, Canopy by Hilton will be part of ‘Metropolitan’, a brand-new mixed-use residential, retail and hotel project under development. Forming a central part of this development, Canopy by Hilton Casablanca Les Arènes will house three food and beverage outlets, four meeting rooms and one large function room, in addition to a gym, a spa and an outdoor pool. The hotel is expected to start welcoming guests by 2024 and is the brand’s first property in Morocco and North Africa.
Dating back to the early 20th century, Les Arènes was the city’s cultural hub where famous Moroccan and international artists such as Johnny Hallyday, Ray Charles, Fayrouz and Dalida gathered to display their art, and popular events took place. Nowadays, the neighborhood houses Casablanca’s finest dining and fashionable shopping options, making it a prime destination where history meets modernity.
Canopy by Hilton Casablanca Les Arènes is set to be a true reflection of the surrounding neighbourhood. Offering local delicacies in the café, all the way to the amenities that make it a home away from home, the modern hotel will embody the historical spirit and artistic flair of Les Arènes.
Canopy by Hilton was launched in 2014 to appeal to travellers seeking locally inspired stays and wishing to immerse themselves in the culture and history of local neighborhoods. There are 13 Canopy hotels open around the globe and more than 41 under development across 14 countries and territories. Aiming to guarantee travelers unique and authentic experiences, Canopy by Hilton was first introduced in the Middle East and Africa region in late 2019, with the opening of Canopy by Hilton Dubai Al Seef.
Yamed Capital is a leading independent, multidisciplinary and integrated group of real estate services and investments in Morocco, across four main business lines:
- Investment Management: for real estate investments, assets and projects (with co-investment capabilities from the Group) through a wide range of products and teams:
- Sourcing and Acquisitions
- Clubs Deals
- Separate Accounts
- Management of OPCI (local REITs, managed through NEMA Capital, a regulated subsidiary held under a 50/50 joint venture with Société Générale Group)
- Investment funds: for both institutional or private clients, with two funds active in Education Real Estate and Hospitality
- Property Development: through two residential brands: Yamed Promotion (high-end) and Yamelki (social housing)
- Construction: Architecture & Design, Turnkey Development, Project Management
- Advisory & Transaction: Brokerage (residential and commercial assets), Capital Markets, Client Care Center (Yamed Stores and After-Sales Service).
Established in 2013, Yamed Capital has ca. 80 employees, 600,000 square meters of assets delivered or under development and a volume of over 550 million Euros of Assets Under Management.
For more information, visit www.yamed-capital.com