The chain already has branches in Jerusalem, Tel Aviv, and Nazareth.
The Modani is being built on the site of the Blue Bay Hotel, which has been demolished.
The Israeli carrier will operate two weekly flights from Tel Aviv to each of Rome, Prague and Athens.
Four hotel chains have made "Globes" list of the country's top 100 brands.
The 111-room boutique Opera Hotel is part of the Nakash brothers Jordache Group's Herbert Samuel chain.
The woman who died contracted the disease during an El Al flight from New York to Tel Aviv in March.
The announcement that the world's largest airline is resuming flights to Tel Aviv next year will add competition to the route.
Outgoing Cathay Pacific Israel country manager Jonathan Bailey sums up a remarkable 30 months in Tel Aviv.
Isrotel CEO: The closure of Sde Dov airport has made us abandon the idea of building a new hotel on the north beach.
Designed for 4.5 million passengers a year, in the summer Ramon airport serves a few thousand passengers a month.
Real estate interests and a widening budget deficit meant that Tel Aviv airport's fate was sealed, even though closing it was a mistake.