Fattal Adds To Portfolio In Israel | hotelsmag.com

Fattal Hotel Management Co. has purchased the hotel assets of Azorim Tourism—including the ownership of 10 properties as well as the lease for one additional hotel and the management rights to another—for about US$70 million cash and the assumption of about US$260 million in debt. The deal solidifies Fattal's position as the largest hotel company in Israel, with about 30 properties.