Morocco's National Railway Operator (ONCF) has floated tenders for the reconstruction and renovation of the Jamai Palace hotel in Fes, which is estimated to cost around MAD572 million ($59 million), said a report.

ONCF had been authorised by a decree published in the official gazette on July 6 to set up a new subsidiary dedicated for the revamp of the luxury hotel, reported Morocco World News.

The preferred bidder is likely to be selected in mid-September and the work on Jamai Palace hotel, located in the second largest city of Morocco, will start by October, stated the report.

The hotel was closed in 2014 for the renovation work and its reopening is scheduled for 2019, it added.