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Alrov Luxury Hotels to Open the 129-room
Amsterdam Conservatorium Hotel in April

Extensive Renovations Completed of the 1897 Building

Which Served as Amsterdam's Music Conservatory

By Anat Cohen, Globes, Tel Aviv, IsraelMcClatchy-Tribune Regional News

March 20, 2012--Alrov (Israel) Ltd. (TASE: ALRO) is set to open the Amsterdam Conservatorium Hotel in April, after investing €157 million in renovations. The hotel will be the first of a string of luxury hotels that the company will open across Europe.

The Amsterdam Conservatorium Hotel is located on P.C Hoofstraat, the city's exclusive shopping street in the museum and galleries district.

At a press conference today Alrov Luxury Hotels CEO George Akirov said that hotel is located in a historic building, built in 1897, and which served as Amsterdam's music conservatory. The hotel has 20,000 square meters of space, and was renovated and redesigned by Italian architect Piero Lissoni.

The Conservatorium Hotel will have 129 rooms and suites, ranging in size from 30 square meters to 170 square meters, as well as a banquet hall, business center, fully equipped meeting rooms, brasserie, restaurant, bar, and a 1,000-square meter Akasha holistic compound similar to the one at the company's Mamilla Hotel in Jerusalem.

Prices will range from €375 per night for bed and breakfast to €3,000.

Akirov added that the company will seek more suitable buildings for luxury hotels in major tourist cities, including Milan, Rome, Berlin, and Barcelona.

Alrov's share price fell 2.3 percent by mid-afternoon today to NIS 82, giving a market cap of NIS 1.1 billion.


(c)2012 the Globes (Tel Aviv, Israel)

Visit the Globes (Tel Aviv, Israel) at

Distributed by MCT Information Services

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