Israeli hotel chain Fattal Holdings (1998) Ltd. (TASE: FTAL ) is opening another hotel in Tel Aviv. The chain, controlled by David Fattal, has rented a historic building marked for preservation near Dizengoff Square, at the corner of Ben Ami Street and Beilinson Street. The building is currently used as a center for Kabala studies. Converting the building to a hotel will cost NIS 50 million and take two years. The lease from the Kabala center is for 24.5 years.
The new luxury boutique hotel, which will have 90 rooms and 3,900 square meters in space, will be called "The Kabala Center." Where the Kabala study center will operate afterwards is unclear.
The special building involved is part of the Tel Aviv White City recognized by UNESCO as a world heritage site. The building was designed in 1937 by architect Joseph Neufeld for Clalit Health Services. Drugs were stored on the first floor of the convex-shaped building, while the upper floor was used by Clalit's management. The Kabala Center acquired the building in 1995 for use as a study center, synagogue, offices, library, bookstore, and a number of hosting rooms.
The Feigin Architects firm and interior architect Ari Shaltiel are designing the hotel, which will include a restaurant, swimming pool on the roof, and a health and fitness compound.
"A unique urban product"
The Fattal chain has 40 hotels in Israel and 170 throughout Europe. Fattal business manager Assaf Fattal, who is responsible for construction of the chain's new hotels, said that the new hotel was an important stage in the chain's development in Tel Aviv. "This is an urban and unique product in a very attractive location. The new hotels will provide a solution for tourists coming to Tel Aviv for leisure and business purposes, and for Israelis seeking an urban vacation in a boutique hotel close to all points of interest in the city of Tel Aviv," he said.
The new hotel will join Fattal's other eight hotels in Tel Aviv: Herods, Leonardo Art, Leonardo Beach, NYX TLV, Hotel Rothschild 22, City Tower, and the future Bachar House - a boutique hotel that will open on the corner of Lilienblum Street and Nahalat Binyamin Street (adjacent to Hotel Rothschild 22).
Published by Globes, Israel business news - en.globes.co.il - on June 18, 2019
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