Israel's Fattal hotel chain and White City Buildings will build a luxury deseret hotel near Arad, overlooking the Dead Sea. Fattal Holdings 1998 Ltd. (TASE: FTAL) Tel Aviv based White City Buildings each bought 50% of the 200 dunam (50 acre) site on which the Masada Hotel was recently demolished. The total investment by the two companies for purchase of the land, in the Judean Desert east of Arad, and construction of the hotel is NIS 200 million.
The planned 110 room, five-star deluxe hotel will be managed by Fattal's boutique hotel unit 7Minds. Each of the rooms will have a balcony and private pool. In the public areas there will be three swimming pools, a spa, events areas and restaurants.
7Minds co-owner Oren Pascal told "Globes," "We aren't planning a hotel that will cost NIS 5,000 per night but the focus will be on luxury. The hotel's winning card is its location and view surrounding it. It's located about an hour and a half from Tel Aviv and we are banking on a mix of 50% domestic tourism and 50% foreign tourism who will combine their visit with a desert experience alongside the historic sites of ancient Israel that are nearby."
The new hotel near Arad will compete with other luxury hotels in the Negev. Last year Isrotel opened the Kedma Hotel near Sde Boker, whoh operates alongside the Beresheet Hotel in Mitzpe Ramon, and Six Senses opened the Shaharut hotel in the Arava - probably Israel's most expensive hotel.
Fattal has 220 hotels in Israel; and worldwide and 7Minds, in which Fattal brought a majority stake from Oren Pascal and Ben Braverman last year, has four boutique hotels in Tel Aviv with seven more hotels in the development stage in Jerusalem, the Dead Sea, Tel Aviv and the Hula Valley in the Upper Galilee. 7Minds is also working with White City Buildings, its partner in the Nordau Hotel in Tel Aviv, on projects abroad.
Published by Globes, Israel business news - en.globes.co.il - on January 5, 2022.
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