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Ritz-Carlton signs First Hotel in Israel

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Ritz-Carlton is to open its first property in Israel. The 110-room hotel, which will also include 85 Ritz-Carlton Residential Suites, is located at the marina in Herzliya, a coastal suburb just north of Tel Aviv. It is scheduled to open in March 2012.

“The selection of a site in Herzliya will appeal to both leisure and business travelers, and recognizes a coastal suburb just north of Tel Aviv as an area that is ready to welcome a five star-caliber property. We hope the signing of an agreement to manage the first Ritz-Carlton in Israel will only be an initial step toward other future locations and opportunities,” said Simon F. Cooper, president and chief operating officer, Ritz-Carlton. “The enthusiasm of the government of Israel and the partners about this exciting project shows their confidence in The Ritz-Carlton brand and its reputation for operating world-class properties around the world.”

The project is co-owned by Tidhar (owned by Gil Geva and Arye Bachar) Adi Strauss and Irit Strauss, and represents an investment of around US $160 million.

Gil Geva, co-owner of The Ritz-Carlton, Herzliya, said, “The Ritz-Carlton will set a new standard for luxury management and comfort in Israel’s hotel and tourism industry. It is poised to drive growth in Herzliya, as well as tourism sites all over Israel.”

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