Orchid Hotel Management Ltd. paid NIS 52 million for the kibbutz-owned hotel outside Jerusalem.
Orchid Hotel Management Ltd. , owned by the Nakash brothers, has acquired 74% of the Maaleh Hahamisha Hotel for NIS 52 million. Kibbutz Maaleh Hahamisha will keep the remaining 26% of the hotel, located in the Jerusalem hills near Abu Ghosh.
The acquisition brings the number of Orchid hotels in Israel to eight.
The Maaleh Hahamisha Hotel has 231 rooms, a banquet hall, fitness room, an indoor half-Olympic swimming pool, and conference rooms in a bucolic rural and forested setting. Orchid plans to renovate the hotel and upgrade its rooms and facilities.
Published by Globes [online], Israel business news - www.globes-online.com - on June 10, 2012
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