Hotel revenues rebound near record levels

Revenues for Israel's hotels are approaching the record levels seen in 2000 as the number of tourists visiting the country climbs.

hotel eilat 224 88 (photo credit: Ariel Jerozolimski)
hotel eilat 224 88
(photo credit: Ariel Jerozolimski)
Revenues for Israel's hotels are approaching the record levels seen in 2000 as the number of tourists visiting the country climbs. The Central Bureau of Statistics said Sunday revenues during the first nine months of 2007 rose 8 percent to NIS 5.3 billion from NIS 5b. in the parallel period of last year as income from tourists lifted 15% to NIS 2.1b. The remainder of the revenue, some NIS 3.2b., came from from lodgings by Israelis, events and other hotel services. The figures lag just a little behind the record of NIS 5.4b. set in 2000. That year, half of the revenue was obtained from tourists, but their share shrank to 40% of the total revenue in 2007 due to the Second Lebanon War. In addition, the CBS reported that hotel workers earn, on average, the highest salaries in Tel Aviv-Jaffa at NIS 6,801, Herzliya at NIS 6,271 and Eilat at NIS 5,944. At the bottom of the salary list are Tiberius hotel workers, earning NIS 4,781, on average. The average salary for an Israeli hotel worker is NIS 5,633, the agency said.