Based in Egypt, Pickalbatros is a leading resort and hotel property owner and operator. The company specializes in the development and management of a wide variety of hotel properties located in prime destinations in Egypt and Morocco. In 2009, BPE-managed investment vehicles acquired 24% of Pickalbatros when it was operating a network of 13 hotels and resorts with 4,500 rooms in Egypt. BPE Partners led the group restructuring and institutionalization effort to facilitate room expansion in Egypt and Morocco. When BPE Partners exited its investment in 2012, the company was operating 17 hotels and resorts with over 9,000 rooms, including 14 hotels in Egypt (Sharm El-Sheikh, Hurghada, Luxor, Port Said, and Ras Sudr) and 3 hotels in Morocco (Marrakech, Agadir, and Fes).

Key Achievements

  • Consolidating ownership and buying out minority shareholders
  • Optimizing tax and corporate structure
  • Restructuring the company‚Äôs debt
  • Acquiring distressed hotel properties and land plots in Egypt
  • Expanding into the Moroccan market
  • Putting in place an operations and procedures manual
  • Implementing corporate governance measures