Isrotel hotel chain is on its way to purchase the Sea of ​​Galilee Hotel

The Isrotel hotel chain is on its way to purchase the Sea of ​​Galilee Hotel with a partner for NIS 225 million. The hotel, which has 212 rooms and is located on the northwest shore of the Sea of ​​Galilee between the Moshava Migdal and Kibbutz Ginosar, is expected to be delivered to Isrotel in the first quarter of 2022 - if the deal is completed after due diligence.
The DE of Galilee Hotel was built by the Tal family, who own the Restel Hotel in Tiberias, and opened its doors in January 2019. The hotel specializes in hosting tourist groups from around the world, and holds social events, parties, and hosts couples traveling in the Galilee.
Isrotel, which is controlled by the Lewis family (80%), owns the rights or operates 20 hotels in Israel with 4,402 rooms, of which 3,523 are wholly or partially owned. The company, which has a significant number of hotels located in Eilat, does not yet have a hotel on the shores of the Sea of ​​Galilee.
Isrotel ended the second quarter of the year with a profit of NIS 78 million, compared with a loss of NIS 27 million in the corresponding quarter in 2020. The company's revenue turnover amounted to NIS 451 million, compared with NIS 81 million in the second quarter of 2020.