Fattal Hotel Management, controlled by David Fattal, has signed an agreement with the Golden Tulip Hospitality BV international hotel and resort chain to open another of the chain's hotels in Israel in April.
The new hotel is the Paradise Club hotel in Eilat, which was extensively renovated and upgraded at a cost of $3 million. Yitzhak Tshuva owns the hotel, which will be renamed Golden Tulip.
The Paradise Club hotel's 280 rooms, restaurant, lobby, and conference hall were renovated. The hotel's conference hall is the largest in Eilat. The hotel also installed Israel's first water park in its pool area.
Golden Tulip is one of the world's largest hotel chains, franchising 251 hotels in 37 countries in Europe, the Middle East and Africa.
Fattal Hotel Management said, "Golden Tulip's decision to expand its brand in Israel together with Fattal Hotel Management is a continuation of the collaboration between the two companies since Fattal Hotel Management began managing the Golden Tulip Hotel at the Dead Sea in 1999."
Fattal Hotel Management operates 11 hotels in Israel, making it Israel's largest hotel chain, along with Dan Hotels (TASE: DANH). Fattal Hotel Management manages 3,833 hotel rooms. Most of the hotels are along the Dead Sea and in Eilat. The company has 3,000 employees, and its annual revenue is estimated at NIS 450 million. In addition to the Golden Tulip brand, the chain also operates the Meridian, Club Med, Magic, and Paradise brands.
Published by Globes [online], Israel business news - www.globes.co.il - on March 16, 2005