How Much Does an Airbnb Really Make in Marrakech in 2025? A Complete Analysis by Neighbourhood

Every property owner in Marrakech eventually asks the same question: how much can I realistically earn with Airbnb here? Not the optimistic figure from a real estate agent, not the theoretical projection of an online calculator — the actual net return, after expenses, in a real market.

Our analysis of 4,800+ active listings in Marrakech, cross-referenced with data from our managed portfolio, reveals a considerable gap between bottom-of-market properties and those in the top quartile. The top 10% of listings generate two to three times the median market revenue. This is not a matter of neighbourhood, or even property type: it is, above all, a question of management quality.

Here are the raw numbers, unfiltered.

The Real Airbnb Market Figures for Marrakech in 2025

Marrakech currently has 9,818 active Airbnb listings (Airbtics, data from February 2025 to January 2026). It is a deep market underpinned by solid fundamentals: 4 million tourists visited the city in 2024, generating 12 million overnight stays (Médias24, January 2025). Airbnb ranked Marrakech 6th globally among its fastest-growing destinations for 2024 (Le360.ma).

These figures create an illusion of ease. The median market occupancy rate sits between 47 and 52% annually — meaning more than half of available properties lie empty one night in every two. The median daily rate is approximately MAD 850, with a higher average of MAD 1,260 pulled upwards by premium properties.

Why Median Figures Are Misleading

The revenue distribution across Marrakech Airbnb listings is extremely skewed. Top-quartile properties achieve occupancy rates of 74% or higher. The top 10% exceed 88% annually. At the other end, poorly managed or poorly positioned properties stagnate between 30 and 40% occupancy — sometimes lower.

This dispersion comes down to three main factors: listing presentation quality, pricing strategy, and operational responsiveness. An average property in a premium neighbourhood can underperform a well-run property in a secondary area.

The Management Gap: The Number That Changes Everything

According to data from our managed portfolio, the average occupancy rate across all our properties reaches 73%, compared to a market median of 47 to 52%. This gap of 20 to 25 percentage points represents, on a 2-bedroom apartment in Guéliz at MAD 1,000 per night, a difference of MAD 75,000 to 90,000 in annual gross revenue.

The Maison Labyad portfolio performs +43% above the market median in terms of gross revenue generated per property. This is not a marketing claim — it is what the data shows when comparing similar properties managed in different ways.

Revenue by Property Type

Our analysis of 4,800+ active listings in Marrakech allows us to segment the market by property type with sufficient precision to guide an investment decision.

Comparison Table: Riad, Apartment, Villa

Criteria	Medina Riad (3 bed)	Guéliz Apartment (2 bed)	Palmeraie Villa
Average ADR	MAD 2,000–4,000	MAD 800–1,400	MAD 3,500–8,000
Annual occupancy rate	55–70%	70–85%	40–65%
Nights let per year (est.)	210–255	255–310	145–235
Annual gross revenue (mid-range)	MAD 480,000	MAD 270,000	MAD 640,000
Operating costs	MAD 130,000–170,000	MAD 45,000–65,000	MAD 160,000–240,000
Net revenue before tax	MAD 310,000–350,000	MAD 205,000–225,000	MAD 400,000–480,000
Estimated acquisition price	MAD 2,500,000–4,500,000	MAD 900,000–1,600,000	MAD 4,000,000–10,000,000
Estimated gross yield	8–14%	15–18%	5–12% (high variance)

What These Figures Actually Mean

The riad generates the most regular and predictable gross revenue among premium segments. Its gross yield of 8 to 14% is attractive, but its high acquisition cost and operating expenses — cleaning staff, maintenance of tadelakt and zellige surfaces, fountains, and so on — compress the net return.

The apartment offers the best net yield, often nearly double that of a comparable-standard riad. Demand is more diversified — business travellers, couples, families — and the low season is less pronounced. It is the most capital-efficient segment.

The Palmeraie villa is the most volatile segment. A perfectly positioned, well-managed villa can generate exceptional net revenue during peak weeks (New Year, Marrakech Fashion Week, MAWAZINE). But the slack periods of July-August or January-February can be severe. This is an investment for an experienced operator, not a first asset.

Revenue by Neighbourhood: Full Comparison Table

The data below comes from our portfolio analysis and Airbtics market data for Marrakech covering the period February 2025 to January 2026.

Neighbourhood	Average ADR	Annual occupancy	Annual gross revenue*	Gross yield	Dominant client profile
Medina	MAD 1,850	62%	MAD 419,000	10–14%	International tourists, leisure
Palmeraie	MAD 2,400	52%	MAD 456,000	6–12%	Premium clients, affluent families
Hivernage	MAD 1,650	70%	MAD 422,000	12–16%	Couples, moderate luxury tourism
Guéliz	MAD 1,200	78%	MAD 342,000	15–18%	Business travellers, city breaks
Agdal	MAD 1,050	74%	MAD 284,000	14–17%	Families, long-stay guests

Estimated on a basis of 365 nights at the stated average occupancy rate, for a standard-sized property in each neighbourhood.

Medina: The Prestige That Carries an Operational Premium

The peak high-season occupancy rate in the Medina reaches 78%. It is the neighbourhood that attracts the most free-spending international clientele — travellers who come specifically for the authentic Medina experience: the souk, the Koutoubia mosque. A riad with excellent photography and strong reviews can rent at MAD 4,000 or even MAD 6,000 per night in December to March.

The trade-off is logistical. The Medina's narrow lanes are impassable by car. Linen changes between stays require coordination and often porters. Maintenance providers — plumbers, electricians — charge an accessibility premium. In summer, demand drops sharply when temperatures exceed 40°C.

The average annual occupancy stabilises at 62% — respectable, but lower than Guéliz or Hivernage despite considerably higher nightly rates.

Palmeraie: The Market of Extremes

The Palmeraie is the most polarised neighbourhood in Marrakech on Airbnb. Architecturally remarkable villas with private pools and service including a private chef achieve occupancy rates of 65 to 80% in high season, with ADRs that easily exceed MAD 8,000. Standard or poorly presented villas struggle to exceed 35% annual occupancy.

The average ADR of MAD 2,400 conceals this bimodality. Seasonality is more pronounced here than in any other neighbourhood: July and August are extremely quiet, whilst the last weeks of December and February-March weeks can represent 25 to 30% of total annual revenue.

If you are investing in the Palmeraie, presentation quality and management are even more critical than elsewhere.

Hivernage: The Balance Between Rate and Consistency

Hivernage combines above-average nightly rates with sustained occupancy. The hotel district of Marrakech — La Mamounia, Kempinski, Es Saadi — generates a premium clientele that naturally spills over into well-positioned furnished lets.

An annual occupancy of 70% (peaking at 75% in high season) with an average ADR of MAD 1,650 produces regular and predictable revenue. It is probably the neighbourhood offering the best yield/operational peace of mind balance for an investor who does not wish to manage the complexity of the Medina.

Guéliz: The Net Yield Champion

Guéliz is our systematic recommendation for a first rental investment in Marrakech. The average annual occupancy of 78% is the highest of any neighbourhood — and this figure is achievable by any correctly presented and managed apartment.

The reason: the Guéliz clientele is the most diverse in the market. Tourists seeking modernity, business travellers on assignment, Moroccan families for the weekend, expats in transit — Guéliz draws year-round demand from all profiles. The summer low season is less pronounced than in the Medina, because temperatures in an air-conditioned apartment on the fifth floor are far more bearable than in the Medina's lanes.

The average ADR of MAD 1,200 is lower than the Medina or Palmeraie, but combined with 78% occupancy, annual gross revenue on a well-managed 2-bedroom apartment reaches MAD 300,000 to 380,000 — for an acquisition investment of MAD 900,000 to 1,400,000. Gross yield: 15 to 18%.

Agdal: The Market on the Rise

Agdal is the modern residential neighbourhood to the south of Guéliz. The market there is newer, less saturated, and acquisition prices are still slightly below those in Guéliz. The average ADR of MAD 1,050 and 74% occupancy produce gross revenues slightly below Guéliz, but on a lower acquisition base.

Long-stay demand (2 to 4-week stays) is more prevalent in Agdal than elsewhere — families relocating, expats testing the neighbourhood before signing a long-term lease. These stays generate less operational turnover and generally higher reviews, as guests have time to genuinely live in the accommodation.

This is a market worth watching: new residential developments are emerging regularly, and current yields could compress as supply increases.

What Separates the Top 10% of the Market

The 88%+ occupancy achieved by the best listings in Marrakech is not a matter of chance. Four levers explain this gap.

Professional Photography: +30% on ADR

This is the most underestimated and underused lever. Professional photography — controlled lighting, thoughtfully staged spaces, measured retouching — allows an identical apartment to rent at 25 to 35% more than one photographed on a smartphone.

The logic is simple: Airbnb is a visual platform. A traveller decides in seconds whether to click or not. The cover photo is the equivalent of a shop window. Owners who invest MAD 1,500 to 3,000 in a professional photo shoot recoup that investment within a few additional nights.

Dynamic Pricing: +15 to 25% Occupancy

Fixed pricing is the main error made by self-managing owners. A flat price of MAD 1,000 per night, 365 days a year, guarantees you will be too expensive in low season (and therefore vacant) and will miss revenue in high season (and therefore leave money on the table).

Revenue management tools — PriceLabs, Wheelhouse, or the proprietary systems used by professional managers — adjust rates daily based on real-time demand, local events (festivals, conferences, matches), and market fill levels. The result: a 15 to 25% improvement in annual gross revenue, sometimes more.

Superhost Status: +12% Occupancy

Airbnb algorithmically favours Superhost listings in its search results. Achieving and maintaining this status (90%+ response rate, less than 1% cancellation rate, average rating 4.8+) generates superior organic visibility that translates directly into additional bookings.

In our portfolio data, properties maintaining Superhost status show on average 12% higher occupancy than comparable properties without it, at the same price point and location. A sub-one-hour response time is the most critical factor — Airbnb monitors it very closely.

Listing Optimisation: Title, Description, Amenities

An Airbnb listing title is a conversion tool. "Guéliz Apartment" does not perform the same as "Design apartment, Atlas views • Residence pool • 200Mbps fibre". The amenities list is a search filter: every ticked amenity widens exposure to filtered searches.

The description must address objections before they are raised. Street noise? Specify the glazing type. Access concerns? Describe nearby parking. Listings that anticipate travellers' questions receive fewer pre-booking messages and more direct bookings.

Realistic 12-Month Financial Simulation

To make this analysis concrete, here is a simulation for a typical property: 2 bedrooms, 75m², Guéliz, acquisition value MAD 1,200,000, listed on Airbnb from January 2025.

The Three Scenarios

Self-managed owner: the owner manages the listing personally, welcomes guests, and coordinates cleaning. No management fees, but significant time invested and median-market performance.

Basic property manager: a local agency takes 20% of gross revenue, handles cleaning and check-ins, but uses fixed pricing and does no listing optimisation.

Maison Labyad: full management — professional photography, dynamic revenue management, continuous listing optimisation, 24/7 guest services, Superhost status maintained.

12-Month Simulation Table (2-Bedroom Guéliz Apartment)

Item	Self-managed	Basic manager	Maison Labyad
Average ADR	MAD 950	MAD 1,000	MAD 1,280
Occupancy rate	52%	62%	78%
Nights let	190	226	285
Gross revenue	MAD 180,500	MAD 226,000	MAD 364,800
Cleaning fees	-MAD 38,000	included	included
Management fees (20%)	MAD 0	-MAD 45,200	-MAD 72,960
Airbnb platform fees (3%)	-MAD 5,415	-MAD 6,780	-MAD 10,944
Fixed charges (water, electricity, internet, insurance)	-MAD 18,000	-MAD 18,000	-MAD 18,000
Minor repairs and consumables	-MAD 12,000	-MAD 10,000	-MAD 8,000
Net revenue before tax	MAD 107,085	MAD 146,020	MAD 254,896
Net yield on acquisition	8.9%	12.2%	21.2%

What This Simulation Shows

Maison Labyad's management fees total MAD 72,960 over the year. The gain in gross revenue compared to the basic manager is MAD 138,800. Full professional management pays for itself — and generates a further MAD 108,876 in additional net revenue over the year.

The comparison with self-management is even starker. The owner who manages alone "saves" the management fees, but this apparent saving costs them MAD 147,811 in net annual revenue — whilst also demanding significant operational effort.

The net yield of 21.2% on acquisition is a real figure drawn from our portfolio, not an optimistic model. It assumes rigorous management across the four levers detailed above.

FAQ

How much does a riad in Marrakech make per month?

A well-managed 3-bedroom riad in the Medina generates on average MAD 35,000 to 45,000 per month in gross revenue over the year (with strong seasonal variation: MAD 60,000 to 90,000 in high season, MAD 15,000 to 25,000 in the summer low season). Monthly net revenue, after charges and management fees, typically sits between MAD 22,000 and 30,000 for a well-positioned property.

What is the average occupancy rate in Marrakech?

The median occupancy rate for the Marrakech Airbnb market is 47 to 52% annually (Airbtics, 2025). Top-quartile properties reach 74% or higher. The top 10% exceed 88%. Across our managed portfolio, we maintain an average of 73% across all properties.

Is Airbnb profitable in Marrakech in 2025?

Yes, provided you do not confuse gross revenue with net yield. Marrakech is one of the rare cities in the world where a well-executed short-term rental investment can generate a net yield of 15 to 21% on acquisition. The fundamentals of tourist demand are solid — 4 million visitors in 2024, ranked #6 globally on Airbnb. But profitability depends directly on management quality: underperforming properties at the bottom of the market often fail to generate enough to cover their costs.

What is the best period to let in Marrakech?

The two demand peaks are October-December (ideal temperatures, year-end, New Year) and February-March (early spring, school holidays). Weekends in March-April around festivals can generate exceptional nightly rates. The most pronounced low season is July-August, particularly for Medina properties. Guéliz and Hivernage have a less pronounced low season thanks to integrated air conditioning and a business clientele less sensitive to the heat.

Do Airbnb revenues need to be declared in Morocco?

Yes. Revenue from furnished tourist lettings is subject to income tax in Morocco. Registration with the local municipality and tax authorities is mandatory. The exact modalities evolve regularly — working with a professional manager who stays abreast of these regulatory changes protects you against non-compliance risk.

Conclusion: Management Is the Primary Yield Driver

Location and property type matter. A Medina riad and a Guéliz apartment do not have the same revenue profile. But the data shows it unambiguously: the performance gap between a well-managed and a poorly managed property is far greater than the gap between a premium neighbourhood and a secondary one.

The top 10% of Marrakech listings are not necessarily the best-located or the most luxurious. They are the listings that combine professional photography, dynamic pricing, Superhost status, and continuous optimisation. These four levers are accessible to any property — in any neighbourhood.

If you own a property in Marrakech and are managing your listing yourself, the first question to ask is not "how do I increase my nightly rate?", but "what is my actual occupancy rate, and why is it below 73%?"

Request a personalised estimate of your revenue potential, or ask for your free audit — our team analyses your property and presents a realistic projection within 48 hours.

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Sources: Airbtics (data February 2025–January 2026), Médias24 (January 2025), Le360.ma, Maison Labyad portfolio data (4,800+ listings analysed, same period).