The hotel Palais Jamai in Fez will reopen in 2019

Via a new subsidiary is expected to mobilize more than 570 million dirham ONCF will the renovation of this legendary hotel in FES to fund, which is expected to be operational in 2019.

ONCF is expected to mobilize 572 million dirham to the Palais Jamai in FES to renovate and rebuild. The Government recently in the official Government Gazette published a decree that the Board of Directors authorizes a new subsidiary of ONCF, called ' Palais Jamai SA ', create. Palais Jamai SA will be responsible for work and manage the hotel unit once the renovation is complete, reports Lefr360.

The Decree shall also inform that the design of the hotel will be a reflection of La Mamounia hotel in Marrakech. ONCF took out the hotel in 2015 after the non-renewal of the management contract with the Accor Group.

According to the business plan that has been submitted to the Government, it is expected that the new Palais Jamai in 2019 will be operational and will gradually grow. The financing of the work will be through 40% equity and 60% in the form of bank loans.