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Israel Canada Hotels Expands Operations in Greece: A Major Leap in Hospitality and International Growth

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Sunday, July 27, 2025

Israel Canada Hotels, a prominent player in the hospitality sector, is taking significant steps to expand its reach both in Israel and internationally. The company is currently engaged in strategic deals worth around NIS 200 million, aimed at strengthening its position as a leading hotel operator. With a focus on key markets such as Israel, Greece, and Cyprus, Israel Canada Hotels is expanding its portfolio of properties to meet the growing demand for diverse, high-quality accommodations. This move comes at a pivotal time as the tourism sector recovers from the challenges posed by the global pandemic, and Israel Canada Hotels seeks to cement its status as a leading hotel brand in the region.

Israel Canada Hotels’ Growing Domestic Presence

In Israel, Israel Canada Hotels is actively enhancing its presence with strategic acquisitions and investments. The company recently signed a memorandum of understanding to acquire a 50% ownership stake in two significant properties: the Galilion tourism complex and the Kfar Giladi Hotel. Located in the northern region of Israel, these two properties represent a major leap forward in the company’s expansion strategy.

The Galilion complex, situated in the beautiful Hula Valley, is a popular destination that boasts 120 guest rooms and suites, making it an ideal getaway for couples and families. The complex includes a spa center, swimming pool, restaurant, wine bar, and conference facilities. The Kfar Giladi Hotel, located in Kibbutz Kfar Giladi at the foot of the Naftali Mountains in the Upper Galilee, spans over 30 acres of well-maintained grounds, providing a serene environment for relaxation and leisure. These acquisitions, valued at approximately NIS 140 million, will be managed by Israel Canada Hotels, ensuring the company continues to provide exceptional service while benefiting from ongoing management fees.

Expansion in Tiberias: A New Lease Opportunity

In addition to its acquisitions, Israel Canada Hotels is in advanced negotiations to lease a 307-room hotel in Tiberias for a 15-year period, with an option to extend the lease for another 10 years. This property, which includes extensive public spaces and great potential for tourism activities, represents an exciting opportunity for the company to broaden its offerings in the region.

Plans for the hotel include a comprehensive renovation, aimed at transforming it into a family-friendly destination. With the growing demand for family-oriented travel experiences, this renovation will position the property as an attractive option for tourists looking for comfort and convenience in Tiberias, a popular location on the Sea of Galilee. The project aligns with Israel Canada Hotels’ broader strategy to expand its footprint in Israel and cater to a wide range of travelers.

Israel Canada Hotels’ Expansion in the South: Eilat and the 42 Degrees Project

Israel Canada Hotels is also making notable strides in the southern part of the country, specifically in the popular tourist destination of Eilat. Through a joint venture with the Karel Group, the company is investing NIS 1.5 million in the 42 Degrees project. This complex consists of nine buildings, public areas, a swimming pool, and a gym, and will be managed under a short-term hotel rental model.

This new investment in Eilat complements the company’s previous leasing agreement for a hotel located adjacent to the apartment complex. Both properties will be managed separately, offering tourists different experiences based on the type of service provided. This diversification ensures that Israel Canada Hotels can cater to various customer preferences, providing everything from family-friendly accommodations to more luxurious offerings in Eilat.

Aggressive International Expansion: Israel Canada Hotels in Greece

On the international front, Israel Canada Hotels is making significant inroads in Greece, a popular European destination that continues to draw millions of tourists each year. The company recently completed the acquisition of a Greek company holding the lease rights to a building on Theatrou Street in Athens, next to its existing Play Theatrou Hotel. This acquisition will allow the company to expand its presence in the vibrant Psiri neighborhood, a popular area for tourists.

The new building is set to undergo renovation and will be converted into a 50-room hotel with a restaurant, doubling the capacity of the Play Theatrou Hotel. With this expansion, the hotel will grow to 110 rooms, making it the largest hotel in the sought-after Psiri neighborhood. This acquisition is part of Israel Canada Hotels’ strategy to capitalize on Greece’s popularity as a global tourist hub and increase its footprint in one of Europe’s most desirable destinations.

In addition to this acquisition, Israel Canada Hotels is negotiating the lease rights to another hotel in a prime area of Greece. The estimated value of this deal is 13 million euros, and it represents another strategic move to strengthen the company’s presence in Greece, a market with significant growth potential. The addition of this hotel will further enhance Israel Canada Hotels’ urban portfolio and allow the company to attract more international visitors.

Strategic Focus on Brand Consolidation

Reuven Alkas, CEO and partner at Israel Canada Hotels, emphasized that these acquisitions and investments are integral to the company’s long-term growth strategy. By strengthening its presence in both domestic and international markets, the company is positioning itself to capture a larger share of the global hospitality market. As the tourism industry rebounds, Israel Canada Hotels aims to consolidate its brand and expand its offerings in key locations both in Israel and abroad.

“We see these deals as an opportunity to expand our footprint in the most sought-after markets, while also maintaining our commitment to quality and exceptional customer service. Our focus on Greece, Israel, and the southern region ensures that we can cater to a diverse range of travelers,” Alkas said.

The Current Hotel Portfolio of Israel Canada Hotels

Currently, Israel Canada Hotels operates 24 hotels in Israel, 11 in Greece, and one in Cyprus, with a total of approximately 3,800 rooms. The company’s diverse portfolio includes properties ranging from luxurious resorts to more budget-friendly options, catering to both leisure and business travelers. The expansion plans in Israel and Greece are expected to significantly boost the company’s portfolio, reinforcing its position as a leading hospitality provider in these regions.

Upon the completion of the new deals, Israel Canada Hotels will not only increase its room capacity but also enhance the variety of vacation experiences it offers, from family-friendly accommodations in Tiberias and Eilat to upscale urban properties in Athens. This growth strategy is designed to meet the increasing demand for high-quality hospitality options in both domestic and international markets.

Conclusion: A Bright Future for Israel Canada Hotels

Israel Canada Hotels is making substantial strides in expanding its footprint both in Israel and internationally. Through strategic acquisitions, joint ventures, and investments, the company is positioning itself as a leading player in the hospitality sector. With a strong presence in key tourist destinations like Eilat, Tiberias, and Athens, and a focus on customer service and quality, Israel Canada Hotels is poised for continued success in the growing global tourism market.

As the company strengthens its brand and expands its portfolio, travelers can expect an even more diverse range of accommodation options and experiences, catering to a variety of preferences and budgets. Israel Canada Hotels’ ongoing commitment to excellence ensures that it will remain a key player in the international hospitality industry.



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Fashionable hotel merch for taking your holiday home with you

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Call it the White Lotus effect, but recent years have seen the emblematic crests of the world’s most luxurious and exclusive hotels – from the Ritz to Il Pelicano – become as valuable to such storied institutions as the rooms themselves. Such is the power of hotel ’merch’ – a way to demonstrate your affinity with the heady world of five-star hospitality, without the necessity of even staying a single night. The more obscure, the better: like an embroidered trio of fish on a bathrobe, which, for those in the know, will show you have stayed the night at Lake Como’s Passalacqua hotel – long a bolthole for the upper echelons, from world leaders to Hollywood royalty (or simply found your way to its webstore).

Here, as chosen by the Wallpaper* style team, a selection of these contemporary status symbols: from the cult Ritz Paris x Frame cap (now in its fourth iteration) to Jacquemus’ banana-hued accessories as part of his 2025 takeover of the Monte-Carlo Beach Club, and a T-shirt adorned with a perennial piece of Hollywood iconography: the Chateau Marmont sign.



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This is world tallest hotel, no one has checked in for decades, It’s not in US, UAE, or Japan…, it’s located in …, name is…

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Hotel Ryugyong is the world’s tallest hotel, which is located in North Korea’s Pyongyang. But no one has checked in to this hotel in decades. The reason is…

This is world’s tallest hotel, no one has checked in for decades, It’s not in US, UAE, or Japan…, it’s located in …, name is…

World’s Tallest Hotel: Whenever we think about magnificent buildings, we think of the United States or the United Arab Emirates (UAE). And when we think about North Korea, our mind thinks of nuclear missiles and bombs. But what if we say that the world’s tallest hotel is located in North Korea? Surprising right, but it’s true. The building’s structure reminds one of the Egyptian pyramids. We are talking about Hotel Ryugyong, which is also known for its bad luck. Let’s know more about Hotel Ryugyong.

Hotel Ryugyong

Hotel Ryugyong is surely a marvellous building that resembles an Egyptian pyramid because of its structure. Its height is just a little less than twice that of the Statue of Unity. The height of the Statue of Unity is 182 meters, while the height of this hotel is 330 meters. Hotel Ryugyong has 105 floors. But sadly, the luxurious hotel is still waiting for its first guest. Yes, no guest has come here to date.

Built with big dreams and plans, Hotel Ryugyong is the world’s tallest hotel but today it is known as a desolate and deserted building. The hotel’s exterior is fitted with LEDs, which are used for nightly displays of promotional material and symbols during major national events.

Inauguration Not Done

After knowing about the Hotel Ryugyong, you must be wondering why no guests have checked in here. Well, the answer is that it has not been inaugurated yet.

Incomplete Construction Work

The hotel has not been inaugurated yet because the construction work inside this building is not yet completed. This building is ready only from the outside, but the inside is still deserted.

Work started in 1987

As per reports, the construction of this building started in 1987 and it was completed in 1992. Further construction work was stopped due to the economic crisis, as aid stopped after the collapse of the Soviet Union.

The work was completed by 2011

In 2008, an Egyptian company started a USD180 million exterior glass and aluminium cladding project. The work was completed in 2011. However, the hotel has been in need of interior work ever since.






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Amex GBT, Chooose to launch hotel emissions tracker

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The $42 million floating-rate loan has a 36-month initial term and a 12-month extension option, with interest and completion guarantees from Banyan Street. The deal provides flexible capital for transitional assets at a reset basis, with comparable transactions pricing 98 percent above the loan basis, reflecting collateral strength and execution, Peachtree said in a statement.

“This transaction highlights how private credit continues to fuel opportunities across the commercial real estate landscape,” said Daniel Siegel, Peachtree’s president and principal of CRE. “In today’s volatile environment of elevated interest rates and persistent inflation, private credit remains a critical source of capital.”

Siegel said negative sentiment is preventing some from seeing opportunities.

“The market is bifurcated, with most vacancy tied to troubled assets, and when you adjust for those, the fundamentals tell a different story,” he said. “While sentiment will take time to shift, we’re ready to back smart business plans in this space.”

The private credit market continues to fill the gap left by traditional lenders, providing certainty for sponsors with defined strategies, the statement said.

Atlanta-based Peachtree is led by CEO and managing principal Greg Friedman, managing principal and CFO Jatin Desai and principal Mitul Patel.

“This transaction reflects a careful approach to how we de-risk—by structuring a basis reset in a top submarket with an experienced sponsor and a clear repositioning plan,” Siegel said.

Banyan plans to reposition AFC, starting with leasing the North Tower, using reserves for capital expenses, tenant improvements, and leasing. It will also explore larger tenants and redevelopment options.

While the broader office market faces headwinds, Buckhead remains a strong submarket, supported by financial firms, MARTA access, highway connectivity and retail and hospitality infrastructure, Peachtree said. Limited new supply, declining sublease inventory, and steady tenant demand position Buckhead and AFC for recovery and growth.

“Borrowers are seeking flexible capital that can adjust to changing market conditions, and that’s what we’re delivering,” said Jared Schlosser, head of originations and CPACE at Peachtree. “By providing execution certainty, we’re giving sponsors the runway to carry out their plans.”

Peachtree recently launched a $250 million fund to invest in hotel and commercial real estate assets mispriced due to capital market illiquidity.



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