Louvre Hotels Group announced on Tuesday that it signed a partnership agreement with Ynna Holding that includes the management, operation and marketing of its Ryad Mogador hotels in Morocco.
Under the agreement with the Casablanca-based Ynna Holding, the 10 Ryad Mogador hotels in operation and two under construction will be branded as “Mogador Hotels by” either Tulip Inn, Golden Tulip or Royal Tulip, depending on the property’s segment. The agreement runs for a renewable eight-year period.
“Our partnership with Ynna Holding is an unparalleled opportunity for the development of Golden Tulip hotels in Morocco,” Pierre-Frédéric Roulot, Chairman and CEO of Louvre Hotels Group. “Following the opening up of the Algerian market in 2012, this new partnership reflects the growing importance of North Africa in Louvre Hotels Group’s international development strategy.”
The deal increases the Moroccan portfolio of Louvre Hotels Group, a subsidiary of Groupe du Louvre, Paris, to nearly 4,600 guestrooms in operation and 1,600 under construction.