Alrov (Israel) Ltd. (TASE: ALRO) today dedicated its Mamilla Hotel in Jerusalem, in which it invested NIS 300 million. The company also announced the establishment of a new subsidiary, Alrov Luxury Hotels and Resorts Ltd., which will focus on the construction of five-star hotels worldwide.
Alrov Luxury Hotels managing director Georgi Akirov said that the new company would focus on opening five-star hotels in cities with strong tourist demand, such as New York, London, Paris, Milan, Madrid, Tel Aviv, and Jerusalem. "We intend to invest NIS 1.6 billion in overseas hotels, including commercial space, over the coming years. In late 2010, we intend to operate through the company two hotels in Jerusalem and the Conservatorium Hotel in Amsterdam. We will open another hotel in London in 2011, ahead of the Olympic Games, in the Cafe Royal on legendary Regent Street."
Massimo Ianni, an Italian, will head Alrov Luxury Hotels. An expert in five-star hotels, he established the Armani Hotels and Resorts chain.
The Mamilla Hotel on Mamilla Street in Jerusalem has 194 rooms and suites designed by Italian interior decorator Piero Lissoni. Architect Moshe Safdie designed the building. Construction of the hotel's 1,000-square meter holistic medicine center is almost complete. It will include a spa, a luxurious fitness room, a swimming pool, conference rooms, and banqueting halls equipped with advanced technologies, and an amphitheater style hall for private presentations and lectures.
Published by Globes [online], Israel business news - www.globes-online.com - on August 5, 2009
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