Israeli hotel chain eye up Europe for expansion

Fattal is the largest hotel chain in Israel and its sights set on international expansion for especially into the European market. This is something that it has succeeded at greatly in the past and it has over 30 hotels throughout Europe. Currently there are hotels in Switzerland, Germany, Belgium and Hungary.

They usually come under the Leonardo brand and are either rated as four or three stars. The company of announced that their expansion plans are going to bring a hotel to Vienna this July and they are going to be opening two additional hotels in Germany.

The owner of the company, David Fattal commented, “We have 20 hotels in Israel and we know that it is a rather small country so we needed to expand internationally if we wanted to continue development. We already have a great deal of plans for expansion next year and are also going to be bringing hotels to Italy and Spain in the near future. We also have longer term plans for France and England.”

In Israel the hotel company dominate the market with 20 percent of all hotel bookings being with the company. In certain tourist hotspots such as the Dead Sea, the market share of the company is nearly 40 percent. The company have also stated that one of the reasons they are not expanding further in Israel is simply because the competition regulators in the country won’t allow them to.

The profit of the company is also increasing dramatically and over the last few years it has seen its profit figure grow by 10 percent every year. The company also announced that they might be looking at listing themselves on a stock market somewhere in Europe and have already ruled out a potential listing on the Israeli stock exchange.