Move over AirBnb: Israel transforms offices into hotels
Some 17 requests have been made to convert office buildings into hotels since the start of the new year, which already could represent the potential for 1,384 more hotel rooms in Tel Aviv.
By YVETTE J. DEANEUpdated: JANUARY 29, 2019 05:48A view of the Tel Aviv coastline, a hotel-owner’s dream(photo credit: MARC ISRAEL SELLEM/THE JERUSALEM POST)
As Israel welcomed a record breaking 4 million tourists into Israel in 2018, the Ministry of Tourism is initiating a conference for converting office buildings into hotels and hostels to accommodate the growing tourism industry."Tourism is one of the main market sectors generating income for the State of Israel," Minister of Tourism Yariv Levin said before the conference on Tuesday. "In order to continue to grow incoming tourism and meet the many demands, the Ministry of Tourism is required to find innovative solutions with the conversion of existing buildings in order to increase the room supply in Tel Aviv and to allow a speedy and smooth entry for entrepreneurs into the developing tourism market in Israel.”The first-time conference will take place at the Eretz Israel Museum on January 30, with the goal of connecting property owners with hotel entrepreneurs, investors and sources of finance.The Ministry of Tourism is giving out grants of 10% of a total investment to those hotel entrepreneurs who decide to participate.Some 17 requests have been made to convert office buildings into hotels and hostels since the start of the new year, which already could represent the potential for 1,384 more hotel rooms in Tel Aviv.
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