Fattal International Hotels and Resorts, which operates 34 hotels around Israel, will open four new hotels over the next year at an investment of NIS 500 million, or around US$126 million. The hotels will be in Herzliya and Tiberias and two in Tel Aviv, Globes reports.
The four new hotels come on the heels of Fattal opening three hotels in 2014 in Ashdod, Ashkelon and Netanya, having added 1,000 new rooms over the past two years.
The new hotels set to open this year are: Herods Herzliya, a 252-room hotel in three buildings overlooking the marina at an investment of NIS 300 million.
Two hotels in Tel Aviv (where Fattal already has four hotels with 820 rooms): 156 rooms on 9 floors of Rothschild 22 at an investment of NIS 45 million, and 190 rooms in the Midtown Hotel on Menachem Begin Road in Amot Clal Building at an investment of NIS 65 million.
The fourth hotel will be the Leonardo Boutique in Tiberias after Fattal brought the shell of the old "Hof Hod." The 60-room hotel at an investment of NIS 45 million will open in early 2016.