Its closure is linked to the end of the lease and not to the current economic situation.
It’s official, the prestigious Sofitel Agadir Royal Bay closes for the end of the lease. The contract which has linked Risma since 2004 to ABS Holding, the hotel owner, expires on June 30, 2020.
This decision is made by mutual agreement between the two parties, given the obsolescence of the hotel, which requires a major renovation to meet 5-star luxury standards and which is in no way linked to the current economic situation.
Risma remains the owner of the Sofitel Agadir Thalassa Sea & Spa which remains open and continues to operate. Note that Risma is the leading tourist operator in Morocco with 27 hotel units, opened in 2019, i.e. 4,102 rooms in 11 cities across 6 strong brands (M’Gallery, Sofitel, Novotel, Mercure, Ibis and Ibis Budget). Risma is also the leading national tourist investor with 5 billion dirhams of investment made in 26 years and 2,663 employees. Risma’s current shareholding is held by: the RMA group and subsidiaries at 36.74%, the Accor group at 33.34%, the CIMR group at 12.32%, Mamda-MCMA at 5.86 %, CFG Group at 2.40% and 9.34% float on the stock market.