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Fattal Hotels, the Largest Hotel Chain in Israel, Rebranding
its Paradise Club Hotel to Golden Tulip Eilat

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Tel Aviv (Israel), Amersfoort (The Netherlands), 17th March 2005 – Golden Tulip Hotels, Inns & Resorts and Fattal Hotels, a leader in the Israeli hotel industry, are proud to announce the signing of the franchise agreement for the new 280-room Golden Tulip Eilat. This is the second hotel operated by Fattal Hotels to be franchised by Golden Tulip. The Golden Tulip Privilege Dead Sea has been a Golden Tulip Hotel since 1999.
 
The Golden Tulip Eilat, formerly known as the Paradise Club Hotel, will open in early April 2005 following an investment of USD 3 million to renovate and revamp the hotel to a 280-room hotel with international standards. The Golden Tulip Eilat will offer the largest convention centre in Eilat, a water park, entertainment lobby and a renewed dining room, all under the concept of “All Inclusive”.

Mr David Fattal, owner of Fattal Hotels comments: "I am delighted to add another Golden Tulip to the Israeli hotel landscape and am confident that the hotel will successfully re-enter the market with the Golden Tulip brand.”
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Golden Tulip Eilat
(formerly Paradise Club Hotel)
Eilat, Israel
Mr Hans Kennedie, President & CEO of Golden Tulip Hotels, Inns & Resorts, adds: “I am pleased that we have expanded our portfolio in Israel with this new hotel. Golden Tulip’s strategy to team up with strong local partners such as Fattal Hotels is a proven benefit in many markets. Fattal Hotels is a renowned company in the Israeli hospitality industry and the combination with Golden Tulip will give the hotels added value in the international market place.”

Fattal Hotels is the largest hotel chain in Israel, operating 11 hotels under the world's leading brands, such as the Le Meridien & Club Med. The company has 3,833 hotel rooms in Israel's central resorts and business centres. Fattal currently employs 3,000 staff members and its annual revenues from hotels are estimated to be over NIS 450 million.

Golden Tulip Hospitality B.V. with its head offices based in Amersfoort, the Netherlands and Lausanne, Switzerland, is the owning company of Golden Tulip Hotels, Inns & Resorts, franchising some 251 hotels across 37 countries, with the majority of hotels being located in urban destinations across Europe, the Middle East & Africa. 

Contact:

Rachna Taneja – Strategic Development Director
Golden Tulip Hospitality B.V.
Tel: +31 33 2544 804
E-mail: rachna.taneja@goldentuliptop.com
Website: www.goldentulip.com

 Merav Meluban – P.R. Manager
Fattal Hotels
Tel: 972-3-5450116
E-mail:merav@shalmor.co.il
Website: www.fattal.co.il

Also See: Tourism Hotels & Leisure Plans to Acquire Up to 48% of Golden Tulip Hospitality; Partnership Will Comprise 534 hotels in 45 Countries / January 2005
Cancun, Barbados and Puerto Rico Were the Best Performers in the Global Resort Market with 2003 Occupancy Levels of Up to 78% / Deloitte / March 2004


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