The Olive Tree Royal Plaza Hotel has opened in Jerusalem. The hotel is located in the Mandelbaum compound, near the American Colony Hotel. It cost $35 million to set up the 304-room hotel.
The hotel incorporates building styles which characterize Jerusalem's history, and at the heart of the hotel is a covered garden with an olive tree, around which there used to be a visitors' inn. The hotel has a banquet hall, swimming pool, spa and oriental restaurant.
The hotel was set up by a group of Swiss investors, represented by Rafi Farber. The Royal Plaza hotel chain has another hotel in Tiberias, and the Heart of Jerusalem apartment hotel in Jerusalem.
The chain's managers say the hotel has long-term agreements with travel agents in the US and in Europe, and the occupancy forecast for the coming months is 85%.
Published by Israel's Business Arena on December 15, 1999