Following years of severe disruption to Israel’s tourist industry, by the Covid-19 pandemic and by war, Hamat Gader, in the southern Golan Heights, is set to undergo major rehabilitation and expansion. Gal Naor, daughter of Delek Group controlling shareholder Yitzhak Tshuva, is joining as a partner, holding a 70% stake in the company that operates the site. Naor plans to expand the accommodation capacity to approximately 170 units and upgrade the thermal springs complex, with the goal of attracting international tourists. At the same time, under the new owner’s plan, entrance fees are also expected to rise.
Until now, Hamat Gader has been held by four kibbutzim in the southern Golan Heights-Mevo Hama, Kfar Haruv, Afik, and Meitzar. This stems from a long-standing agreement between the state (the Israel Land Authority) and the kibbutzim, in what was described at the time as a "means of production" for them.
The site, which has become one of the region's signature tourist destinations, features thermo-mineral baths, a spa hotel, swimming pools, and a crocodile farm. In recent years, visitor numbers have stalled, resulting in significant losses for the kibbutzim. Now, the entry of the Naor Group, in a deal estimated at approximately NIS 150 million for a 70% stake is intended to inject fresh capital into developing the site and expanding its revenue streams, primarily by significantly scaling up its hotel operations.
Transforming the visitor experience
The deal has already been approved by the kibbutzim, and according to sources familiar with the matter the state is not expected to raise any obstacles to the transfer of ownership. Although this involves a unique natural resource that was once transferred from the state to the kibbutzim, the shares being acquired are solely in the company that operates the commercial tourism site; the transaction does not include the purchase of the land itself or the adjacent national park. Nevertheless, the site’s development and operations remain subject to the land rights arrangements with the Israel Land Authority and to local planning regulations, while the areas designated as a national park have been separately allocated to the Nature and Parks Authority and are excluded from the deal.
At the core of the plan is the construction of 140 additional accommodation units, in accordance with building rights established under a zoning plan approved in 2018. The Spa Village hotel currently has 31 suites on-site; implementing the plan will bring the total number of accommodation units to 170. Alongside the new construction, a comprehensive upgrade is planned for the thermal baths, infrastructure, spa facilities, and amenities. The objective is to increase the number of visitors who stay overnight, alongside the day-visitor traffic upon which the site has relied for years.
"This is not merely about adding hotel rooms," sources familiar with the details of the transaction told "Globes". "The concept is to transform the entire visitor experience, from the thermal baths to the hospitality facilities. Leading thermal spa destinations worldwide have been studied, and the objective is to elevate Hamat Gader to a comparable standard, leveraging its natural springs and unique environment."
The plan is still in the formative stages, and the scope of investment and the project timelines may change. Although the expansion of the hotel facilities is based on an approved construction plan, further clarification is required about any additional permits or authorizations that may be necessary for its implementation.
Naor’s entry into Hamat Gader follows a particularly challenging period. In June 2024, just months after reopening following the outbreak of the war, the site was temporarily closed because of a sharp decline in visitor numbers. At that time, its management reported that the site was incurring monthly losses in the seven-figure range, necessitating the layoff of dozens of employees to mitigate the damage.
Nevertheless, a distinction must be made between the losses incurred during the war and the current financial situation. The monthly losses recorded in 2024 were specific to a period of crisis and do not necessarily reflect the site’s annual performance or the total liabilities accumulated over the years.
Admission prices to rise
One of the direct consequences of the plan is expected to be an increase in the cost of admission to the site. Currently, a full-price entry ticket costs NIS 127 on weekdays and NIS 139 on Thursdays and Saturdays (before discounts or special offers). Given the planned investment in infrastructure, maintenance, and the expansion of services, a price hike is anticipated.
At any rate, the intention is not to turn the thermal baths into a facility exclusive to hotel guests; day visitors will still be permitted to enter. However, the amount of the price increase has not yet been determined. It remains unclear whether the new pricing will apply to all tickets, or if different entry options will be established for the various facilities under development. Furthermore, the question of how the shift toward a more upscale model might affect the site’s accessibility for families and local visitors remains open.
The issue of pricing also touches upon the site’s unique status: alongside the commercial resort complex, the area includes land designated as a National Park and a Nature Reserve, encompassing the remains of ancient Roman baths. Distinguishing between these areas is important, as acquiring rights in the operating company does not confer ownership of the National Park; the regulations governing the commercial thermal baths differ from those applicable to areas managed by the Nature and Parks Authority. Admission prices for the commercial site are not automatically subject to the National Parks Authority’s official price list, but without reviewing the lease and operating agreements, it is impossible to determine whether other contractual limitations on rates exist.
A free pool nearby
Near Hamat Gader, there is also a popular, free thermal pool (Ein Jones). Over the past year, the site has been closed for restoration work after the structure was deemed hazardous. This sparked a public outcry, driven largely by concerns that the Nature and Parks Authority intended to convert it into a paid-access site. Regional Council head Idan Greenbaum has pledged, however, that the site will remain open to the general public free of charge.
Conservation and development efforts are currently underway at the adjacent archaeological site, where the Nature and Parks Authority offers guided tours by arrangement. While these areas are separate from the hotel operations that the Naor Group seeks to expand, they could be integrated into the region’s broader tourism offering.
Part of a broader vision
The deal at Hamat Gader is unlikely to be the Gal Naor group’s last investment in the tourism sector. According to the group’s plans, it intends to explore further investments in nature and leisure sites across Israel over the coming years, targeting properties with the potential for development into hospitality complexes. Hamat Gader is slated to be one of the initial projects in this expansion effort.
"Hamat Gader is part of a broader vision held by the group," industry sources said. "In recent years, they have evaluated sites nationwide where unique natural assets could be combined with hotel and hospitality facilities. The objective is to continue developing this sector, with Hamat Gader potentially serving as a cornerstone investment."
The success of this initiative will depend on several factors: the scale of investment required, the pace at which tourism in the north recovers, and the ability to increase the site’s revenue without significantly compromising public access.
Published by Globes, Israel business news - en.globes.co.il - on October 15, 2026.
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