Their incorporation into the arrangement is subject to a separate agreement with the hotel owners.
A memo of understanding, signed by the Koor Corporation and Sheraton, excludes the two luxury hotels under the management of Sheraton in Israel, the Sheraton Tel Aviv and the Sheraton Plaza Jerusalem. These two hotels are managed by the world-wide chain, I.T.T. Sheraton.
It was reported on Thursday that an agreement has been signed under which Koor and Sheraton will manage 2,100 hotel rooms in Israel. The number includes rooms in the Sheraton Tel Aviv and the Sheraton Plaza Jerusalem. The management over the latter two hotels has still not been decided.
A probe conducted by “Globes” has found that the Paradise hotel chain managed by Koor Tourism Enterprises includes only 1,040 rooms: Paradise Eilat (247 rooms), the Red Sea Paradise (282 rooms), Paradise Jerusalem (200 rooms), Paradise Tiberias (220 rooms) and the Kinneret Holiday Village (91 rooms).
Sheraton Tel Aviv includes 364 rooms and the Sheraton Plaza Jerusalem includes 300 rooms.