Israeli hotel chain Isrotel (TASE:ISRO) is investing NIS 1 billion to open five new hotels and plans a major expansion in 2025. With the addition of the new hotels, the chain now has 28 hotels across the country. In addition, Isrotel plans to open seven more hotels in Jerusalem, Tel Aviv, Eilat and Kinneret over the next five years.
Isrotel will open the 145-room Gymnasia Hotel on Tel Aviv’s Montefiore Street next month. In March, the 147-room Aylet Hotel opened in Kibbutz Ayelet Hashachar in the Upper Galilee, and in May, the Daloma Hotel in Mitzpe Ramon opened with 128 rooms in the completely renovated Pundak Ramon. will open together with the hotel. The 44-suite Kayma will open on the Dead Sea in July, followed by the 122-room Dizengoff 99 Hotel in Tel Aviv in November.
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In addition to opening new hotels, the chain is renovating and enhancing existing hotels. The chain’s first hotel, King Solomon in Eilat, is scheduled to reopen in April after extensive renovations. The Mitzpeh Hayamim Hotel and the Gome Hotel, which were recently used as accommodation for evacuees, will also reopen after renovations.
At the same time, Isrotel’s sister company Alma Chain continues to expand in Europe. Two new hotels have opened in Athens in the past year, and a third hotel, the 218-room Adia, is opening soon in the historic center of the Greek capital.
Published by Globes, Israel Business News – en.globes.co.il – on January 12, 2025.
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