Fattal Takes Over a Dozen Hotel Properties in Israel

17/08/2009 13:06

The leading Israeli hotel chain, Fattal Hotels, is taking over 12 hotels in Israel with more than 3,100 beds. These include all of the hotels belonging to the Sheraton group as well as 3 hotels belonging to the Accor group. The sum involved in the takeover is somewhere in the region of 175 million euros.

The aim of the strategy is to rebrand the majority of the hotels along with the Golden Tulip hotels, already part of the portfolio, as Leonardo Hotels. Leonardo Hotels is set to become the leading brand in Israel and is continuing to expand extensively across Europe.

The hotels that have been absorbed into the portfolio are the Sheraton City Tower Ramat Gan, Sheraton-Moria Plaza Tel Aviv, Mercure Bat Yam, Sheraton Plaza Jerusalem, Moria Classis Jerusalem, Sheraton Ganei Moria Jerusalem, Moria Classic Dead Sea, Sheraton Moria Plaza Dead Sea, Sheraton Moria Plaza Eilat, Sheraton Herods Eilat, Sheraton Moria Plaza Tiberia, and Sheraton Ganei Moria Tiberia.

Two hotels in Israel are already being run as Leonardo hotels: the ‘Leonardo Hotel Negev’ in Beer Sheva and the ‘Leonardo Hotel Haifa’ in Haifa. The first hotel in the ‘Leonardo Boutique’ range is also due to open its doors this week, on 26 July, in Tel Aviv.

The Fattal hotel chain began 12 years ago as a management company with one hotel and now owns 31 hotels in Israel and 32 in Western Europe. This takeover consolidates the group’s dominant position as the number one hotel chain in Israel with more than 20 percent of the market’s total room capacity. Currently, the hotel chain owns a total of more than 60 hotels and in excess of 12,000 rooms.

Leonardo Hotels is the European Division of Fattal Hotels, founded in 1998 by David Fattal. Leonardo Hotels has been present on the German market since 2007 and currently operates over 30 hotels in Germany, Belgium, Switzerland and Israel and plans are afoot to open up in other attractive locations across Europe. The company’s head office is in Berlin.

Source: CaribbeanNewsDigital