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May 27, 1994 - Image 46

Resource type:
Text
Publication:
The Detroit Jewish News, 1994-05-27

Disclaimer: Computer generated plain text may have errors. Read more about this.

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Find It All In
The Jewish News
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The peace agreement with the PLO has launched a
hotel boom in the country.

HAIM SHAPIRO SPECIAL TO THE JEWISH NEWS

I

srael's hoteliers have shown
their faith in the peace agree-
ment with the PLO by em-
barking on an unprecedented
spree in hotel takeovers, planning
and construction.
The spree began at the start of
the year and shows every sign of
continuing.
"I believe in peace," says
Yitzhak Teshuva, a real-estate
entrepreneur who entered the ho-
tel business only two years ago
and is now planning a series of
hotels and tourist enterprises
throughout the country. "I believe
there will be real peace soon, and
Israel will be among the strangest
tourism countries in the world."
The Dan Hotel chain, which,
with about 2,000 rooms, is the
country's largest, is planning to
add to the venerable King David
in Jerusalem. It is also building
a hotel in Eilat which will have
more than 400 rooms, and will
take over the management of the
Pninat Dan, which is being built
in the capital near Jaffa Gate.
The Moriah chain, which has
some 1,800 rooms, is planning a
third hotel alongside the Dead
Sea. It also recently acquired
three hotels from Kupat Holim
in Ma'alot, Nazareth and Zichron
Ya'acov. Moriah general man-
ager Yair Youtzis says there has
been a hunt on for hotels all over
the country since the signing of
the Oslo pact in Washington last
September.
"We took over the three hotels
before the hunt began," Mr.
Youtzis says with satisfaction.
Isrotel, which has 1,600 rooms,
is building a new hotel in Eilat,

the Royal Beach. The Caesar
chain is planning to double its
550 rooms by building a hotel
along the Dead Sea and adding
rooms to its hotels in Eilat,
Jerusalem and Tiberias.
The international Holiday Inn
chain, which had no hotels in Is-
rael until two years ago, now has
six in partnership with the
Africa-Israel concern.
Israel Hotel Association direc-
tor Avraham Rosental says Hol-
iday Inn's entry into the Israel
market signals the beginning of
a trend by other international
chains which had previously
stayed out of the country.
He says the French Accor
chain, which specializes in popu-
larly priced hotels, also plans to
come to Israel.
There are also reports that
such real-estate and construction
firms as Koor, Mario Lesnik and
Uri Ofer are contemplating hotel
and tourism projects.
They are following the lead of
Teshuva, whose Paradise chain
now has four hotels with a total
of some 600 rooms. The chain
talks of having 3,000 rooms with-
in a few years and some 6,000 by
the year 2000.
"We have all the plans ready,"
Mr. Teshuva says. "All we need
to do is build."
According to the Hotel Associ-
ation, there are some 32,500 ho-
tel rooms throughout Israel, with
expected increases of 1,400 rooms
this year and 2,100 in 1995,
bringing the total number to
36,000. Mr. Rosental says this is
not too many. Even with period-
ic slumps in tourism caused by

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