The hotel company Pie Siam (TASE: PIES) started trading on the Tel Aviv Stock Exchange yesterday. The company is established and runs by veteran real estate developer Schlomo Daho Key. Until recently, Pie Siam was co -owned by Dahokey and ASPEN Group (Tase: ASGR).
The Aspen Group sold stocks on the IPO, but Peas Siam also issued a new stock, and institutional investors purchased the shares with a company valuation of 810 million NIS. Pies Siam will be the fourth pure hotel company in TASE following Fattal, ISROTEL, and DAN HOTELS.
Pie SIAM, established in 2007, currently operates two Ibis hotels in Jerusalem and owns 50% of hotels near Tel Aviv Port operated by Islotel in collaboration with Islotel. Pice Siam is planning to develop and construct six more hotels, including Holiday Village, which is located along Kinelet in Amnon, and Tutet, Mevseletto, Jerusalem, and Dead Sea hotels. The company is also promoting three evacuation housing planning. There are two in Tel Avib (1 in Navezedek), one on Jerusalem’s Hanevim Street.
Daho Key, currently 50 % of Pise Siam’s shares, has the right time for institutional investors to end the war and hopes for recovery of hotels after the IPO is completed. He said he believed he had entered. sector. He says, “I feel we are talking about the end of the road (to the war). Foreign airlines are starting to return to the country, where they are highly dependent on foreign tourists, such as Jerusalem and Tel Avib. I hope that the hotel will recover. “
Daho Key further said, “Pie Siam’s core activity of real estate launch, planning, and improvement was not affected during the war, but rather the opposite. During this period, the company was planned. Most of them were advanced. I brought the Israelites on the weekend, but we were able to survive this period safely, and we were very well balanced from the viewpoint of operation. As soon as the air service is resumed, the hotel’s operating rate will rise sharply. “
As far as it is known, Daho Key was aiming for a high value of nearly 1 billion NIS to Pai Siam, but the company was ultimately sold to institutional investors. It was low. But his colleagues consider that the completion of this relocation was a success.
Franchise of pizza and KFC
With this IPO, Daho Key (67 years old) has returned to Pai Siam’s only dominant shareholder, and he is the chairman. DOHKI has 35 years of experience in launching, managing, planning, and constructing housing projects for housing, commercial, industrial, hotel, and the elderly through Penthouse. In the past, he was also a franchise member of Israeli Pizza Hut and KFC food chains. In particular, Daho Key’s company has built thousands of housing nationwide, including Jerusalem, Tel Avib, Road Legion, Showham, Mevselett Sion, and Eilat. He has developed and built and built a Halelmall in Mevseletosion, a love cheffa mall in Jerusalem, and a queen of Shivamor in Eilato.
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Piesiam ended the first nine months of sales of 21.5 million Nailers, down 27% year -on -year. The decline was due to the outbreak of the war and the occupancy of the hotel. Pie Siam recorded a net loss of 36 million NIS to 62.5 million NIS in 2023. The decrease in loss is mainly due to the difference in the fair value of assets between the periods.
Published on January 23, 2025 by Globes, Israeli Business News -En.globes.co.il-.
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