Need A Room?
Hotel chain official predicts Tel Aviv
will become a hot spot for conventions.
HAIM SHAPIRO SPECIAL TO THE JEWISH NEWS
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T
he Inter-Continental hotel
gious tourism and those who
chain, which previously want to see antiquities — as well
was identified with the as the leisure travel centers of
Arab world, will manage a Eilat and the Dead Sea.
giant new hotel in Tel Aviv with
However, Mr. O'Carroll is in-
hopes of capturing what it pre- terested in the kinds of gather-
dicts will be a burgeoning con- ings that will bring 2,000 people
vention trade.
to a city at one time.
John O'Carroll, Inter-Conti-
"A destination won't develop
nental regional vice-president for without a hotel infrastructure.
the Mediterranean, says the com- To seek visitors, you need quali-
pany sees Tel Aviv as the gate- ty accommodations and facili-
way to the region.
ties," he says of the convention
The chain, which originally market.
was owned by Pan-Am, entered
the area with the opening of the
Phoenicial Inter-Continental
Beirut in 1961. It now has 19 ho-
tels in 17 cities in the area.
Mr. O'Carroll says Inter-Con-
tinental has market dominance
in every part of the Arab world,
but the company always believed
To catch this market, Inter-
it would come to Israel at the Continental is taking over man-
right time.
agement of the 600-room David
"Tel Aviv as a destination is Inter-Continental Tel Aviv, to be
very sought after," he says. "The built by real-estate developer
danger is gone and there is a David Taic. It is due to be com-
huge pent-up demand."
pleted in March 1998.
Until now, he says, Israel has
The hotel will have the coun-
done well in what he calls the try's largest hotel ballroom, with
"special niche" markets — reli- 2,000 square meters, in addition
The hotel will have
Israel's largest
ballroom.
to another ballroom of 600 square
meters and a full range of meet-
ing facilities.
Designed by John Graham,
who also designed Eilat's
Princess Hotel, the David Inter-
Continental will have a vast atri-
um lobby going up seven floors,
with huge trees and tropical •
plants.
Mr. O'Carroll says the new ho-
tel will benefit the entire country
because large numbers of visitors
will tour on pre- and post-con-
vention trips and spouses will
spend their time and money
shopping during conventions.
"I see Tel Aviv as the gateway
of the Middle East in tourist and
commercial terms," Mr. O'Car-
roll says. He predicts more and
more corporations will set up
their centers and do business
there.
Asked if he, and Inter-Conti-
nental as a company, were not
concerned about possible unrest
or a derailing of the peace
process, Mr. O'Carroll says there
will be a period of upheaval, but
in the end, economic interests will
drive the political agenda. ❑
Israel Trade Gap Rises
23.8 Percent To $7.9 Billion
The trade gap in Israel soared
23.8 percent last year to $7.9 bil-
lion as exports jumped 11.16 per-
cent and imports shot up 15.76
percent, the Central Bureau of
Statistics reported.
Although 83.5 percent of the
deficit derived from trade with
the European Union (EU) and
the European Free Trade Asso-
ciation (EFTA) countries, only
35.3 percent of Israel's exports
ended up in those countries.
The trade deficit with the EU
and EFTA, excluding diamonds,
grew $1.34 billion out of a total
deficit rise of $1.5 billion. The gap
widened to $1.8 billion when di-
amonds were included.
The trade gap with the U.S.,
excluding diamonds, expanded
$340 million to $867 million.
However, with the inclusion of
diamonds, the deficit was turned
into a $1 billion surplus. About
half of Israel's exports, or $2 bil-
lion, ended up in the United
States.
The trade gap with Asia nar-
rowed by $73 million to $721 mil-
lion, while the surplus with the
former East Bloc countries
shrank by $68 million to $195
million.
About half of Israel's
exports ended up in
the United States.
Israel registered a trade surplus
with Japan, including diamonds,
of $20 million compared with a
deficit of $280 million in 1993.
About a fourth of the $1.2 bil-
lion increase in exports last year
derived from trade with Asia. Ex-
ports to Japan, Thailand and In-
dia rose $50-$80
Exports to Singapore, the
Philippines and Hong Kong in-
creased $20-$30 million.
By contrast, exports to China
and South Korea remained un-
changed.
Out of the $240 million in-
crease in exports to the EU, ex-
ports to Italy, Holland, Germany,
Belgium and Spain rose $35-$60
million.
By contrast, exports to France,
Portugal, Greece, and Denmark
dropped.
Exports to the United States
rose by $270 million.
More than half of the $2.7 bil-
lion increase in imports came
from the EU. The United States
contributed $600 million and Asia
$200 million.
❑
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