For Iranian-Jewish entrepreneur and hotelier Sam Nazarian, the worst recession in decades presents a good opportunity to bring to Tel Aviv a luxurious and sophisticated hospitality experience that he says the city has been missing until now.
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"Tel Aviv was always a target city for me as a basic business proposition and because of my emotional attachment to the place," Nazarian told The Jerusalem Post in Tel Aviv this week. "To me, opening a new hotel in Tel Aviv is like a self-fulfilling prophecy. Tel Aviv is a metropolitan resort city and one of the very few places in the world which are underserved or not oversaturated with high-end, quality-service hotels."
During his five-day visit to Israel, Nazarian met with developers, Tel Aviv Mayor Ron Huldai and officials in the Tourism and Finance ministries to discuss his project.
