Boutique Tel Aviv hotel sells for more than $3 million

Three years after opening the boutique Alma Hotel in Tel Aviv, Adi and Irit Strauss, owners of Adi’s Lifestyle, have sold the property. Insiders believe the deal was worth NIS 12 million (more than $3 million), the total amount invested in the hotel’s opening.

The property was purchased by Rothschild’s Friends, whose partners reportedly include former footballer Shimon Gershon. Industry insiders told Israeli website Globes that the high rent hurt the profitability of the venture and was the primary reason behind the sale.

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The sale of the hotel will not affect the group’s other activities, including its operation of Hebert Samuel in Tel Aviv, the kosher Herbert Samuel in Herzliya, and Tapas in Tel Aviv; as well as the Ritz Carlton hotel in Herzliya, held jointly with the Tidhar Group.

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