The revival of Israel’s hotel industry has rekindled developers’ interest. After a long drought that began in the mid-1990s, a number of international chains, including Hilton Hotels Corp. (NYSE: HLT; HLN), Four Seasons Hotel Inc. (NYSE:FS; TSX:FSH) and Kempinski Hotels have recently said they were planning to open more hotels in Israel.
In December 2006, the Israel Land Administration (ILA) published a tender for the construction of a 1,000-room hotel in Tiberias, after 15 years during which no hotel has been built in the town. US real estate tycoon Shaya Boymelgreen and Israeli developers are buying existing hotel properties.
