Israel’s Dan Hotels has acquired three hotels from domestic company Rimonim Hotel Group. The purchase includes the Rimonim Eilat Hotel (formerly the Neptune), the Rimonim Spring Hotel in Nazareth and the boutique-style Ruth Rimonim Hotel in the ancient town of Safed.
“Part of our decision to acquire these hotels is that they fill a gap in the Dan Hotel Corp.’s coverage of Israel, particularly with the addition of the properties in Safed and Nazareth, both located in the northern Galilee region,” said Ronen Nissenbaum, Dan Hotels’ president/CEO.
Four additional Rimonim properties may be added to the Dan Hotel chain in the coming months: one in the Negev Desert, two in Tiberias on the shore of the Sea of Galilee and one in the Golan Heights.
“Our goal is to strengthen and diversify the Dan brand so that we are able to offer something for every traveler’s geographic need, profile and budget,” said Nissenbaum. “For the time being, we will operate the three new hotels as they are, and in the coming months make decisions about renovations, upgrades and possible name changes.”
Dan Hotels has shown double-digit growth in revenue and profits since late 2017, according to the company, and Nissenbaum predicted the Rimonim acquisition “will ensure that growth will accelerate even further in 2019 and 2020.”