A. Levy Investments and Construction has sold the Golden Tulip Hotel Dead Sea to HEI Hotels, owned by Poju C. Zabludowicz’s Tamares group, for $32 million.
HEI CEO Rafi Wiener said that the purchase was a vote of confidence in the tourism to Israel and the local tourism market. He added that the company planned to continue investing in the Israeli hotel sector, and was looking for additional projects.
The deluxe-rated Golden Tulip has 302 rooms and suites, a large spa, a variety of restaurants, etc.
The Tamares group owns six casino hotels in Las Vegas with a total of 2,500 rooms, a boutique hotel in Miami Beach, and other properties.
London-based Zabludowicz serves as CEO of Tamares. He is also a member of Citigroup’s European advisory board, and also chairs a pro-Israel lobby in the UK.
The Zabludowicz family formerly controlled Yokne’am-based Soltam Systems, which diversified from household utensils to weapons manufacturing. The company was sold to Koor Industries (NYSE: KOR; TASE: KOR) and Roni Naftali in the 1990s.
Published by Globes [online] - www.globes.co.il - on August 1, 2005