Israel Canada paying NIS 24m to lease Eilat's Soleil hotel

Soleil hotel Eilat  / Photo: PR

The boutique hotel on the Red Sea resort's north beach has 73 rooms and 12 suites.

Israel Canada (TASE: ISCN) notified the Tel Aviv Stock Exchange (TASE) today that its hotels arm has signed a long-term rental agreement with the Soleil Boutique hotel in Eilat. The 20 year lease for the hotel on the Red Sea resort's North Beach, from the hotel's owners the Yaakov family, is worth an estimated NIS 24 million.

The hotel, which has been recently renovated and designed by architect Ari Shaltiel, has 73 rooms, 12 suites and a spa. Israel Canada plans operating a bar and gourmet restaurant in the hotel.

Israel Canada has recently reported other such agreements including acquiring ISSTA Lines (TASE: ISTA) share of the Publica hotel in Herzliya for NIS 142 million and the Play hotel, which is currently under construction in Tel Aviv's Midtown tower. Next year, Israel Canada plans reopening the Galei Kinneret hotel in Tiberias.

Israel Canada is a public company controlled by Barak Rosen and Assaf Tuchmeir.

Published by Globes, Israel business news - en.globes.co.il - on December 26, 2019

© Copyright of Globes Publisher Itonut (1983) Ltd. 2019

Soleil hotel Eilat  / Photo: PR
Soleil hotel Eilat / Photo: PR
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