February 20, 2018

More Kosher Hotels Planned for Israel

Tel Aviv…"The boom in tourism and the uncertainty in the housing market have changed the priorities of many real estate developers as new hotels flourish,” was the essence of a recent article in Globes, a prominent Israeli business magazine. Even as luxury developments continue to go up in Jerusalem (i.e. Jerusalem Estates at Schneller’s), the hotel industry appears to be expanding mani-fold with many new kosher options in the city. The big news, according to Globes is that some of the new hotels are being built by enterprises that had previously invested in the lucrative real estate market in Israel. The government has also done its part for this new trend. In June 2016, the government gave its approval for independent local councils to approve the conversion of 20% of construction rights for hotels to residential - a flexibility that made hotel projects more attractive. In addition, the Knesset passed an amendment last December to the Building and Planning Law authorizing local councils to approve the conversion of office and commercial projects to hotels."One of our challenges is to bring more international chains," said Minister of Tourism Yariv Levin. "The Club Med chain, for example, has already announced that it is interested in returning to Israel and setting up a leisure village at Dor Beach (south of Haifa)."