Dec. 15, 2011--Rothschild Hotel Ltd., controlled by Avi Yifrach, will open a new boutique hotel on Tel Aviv's Rothschild Boulevard. The company will convert the Evergreen House at 96 Rothschild Boulevard, after its current occupant, Evergreen Venture Partners moves to new premises in the city's high-tech quarter, Ramat Hahayal.

Rothschild Hotel already operates one boutique hotel in Tel Aviv, the Diaghilev Live Art Hotel in a historic building at 56 Mazeh Street, once occupied by Hebrew daily "Haaretz". Opened a year ago, the hotel does not have a sign on its door marking the place.

Real estate prices on Rothschild Boulevard have soared in recent years, and there are no hotels on it. In 1924, the two-floor New York Hotel opened at 25 Rothschild Boulevard. It was designed by architect Zelig Axelrod in the Arab style of Jaffa with the rooms facing an open courtyard.

Israel's tourist industry is directly affected by the security situation, and there has no substantial increase in hotel rooms for several years. However, the luxury boutique hotel's segment in Tel Aviv has been flourishing. There are currently 337 tourism hotels with 47,000 rooms altogether, whose proceeds totaled NIS 6.5 billion in January-September 2011.

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(c)2011 the Globes (Tel Aviv, Israel)

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