The Fattal Hotel Group of Israel owns over 270 hotels in 117 destinations, including the Leonardo, Herods, Uhotels, Hotel Rothschild22 and NUX Chains. The Fattal recently purchased the Grand Resort Limassol, a 5*, 255-room seafront hotel. This brings the total hotels purchased by Fattal Group in Cyprus to 9 properties.
Mr. Ron Aloni, the Managing Director of Fattal Hotels Mediterranean Region, stated that:
“The company employs 1200 people locally and is proud to be further expanding in this island. Our priority right now is to finalize our procedures regarding the newly acquired hotels, complete working on its investments and then exploit new investment opportunities on the island.”
The Grand Hotel will continue operations as the Leonardo Grand Hotel.
Navigator Consulting provides a range of hotel investment due diligence, financial analysis, valuation and turn-around services in Cyprus and internationally. For additional information, please contact us.
Source: Stockwatch.