Tidhar Ltd. and Adi's Investments Ltd., owned by Adi and Irit Strauss, plan to build a Ritz Carlton hotel at the Herzliya Marina, at an investment of NIS 600 million. The hotel, scheduled to open in 2012, will be the Ritz Carlton's first hotel in Israel. It will have 110 rooms, including 85 apartments, along with all the luxury facilities of a five-star hotel.

The Ritz Carlton hotel chain has 70 hotels in 24 countries in the Americas, Europe, Asia, and Africa. 30 more hotels are under development.

Some of hotel's apartments will be available for sale, and registered in the Land Registry (Tabu). The apartments will be fully furnished, with maintenance and management services provided by the hotel.

Ritz Carlton COO Simon Cooper said that the company has been aware of strategic potential of bringing the chain to Israel. "The selection of Herzliya Pituah as the first location meets the tourism, business, and image needs of the chain. We believe that this hotel is the first step toward developing the chain and building more hotels in Israel in the future."

Published by Globes [online], Israel business news - www.globes-online.com - on December 3, 2009

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