David Fattal, owner of the Fattal Group, on Monday announced plans to launch a new chain of European hotels under the brand name Leonardo Hotels. Within the next two years the chain expects to include 80 three- or four-star hotels, for a total investment of over â‚¬1 billion, in western and eastern Europe's main cities. Thus far, the Fattal Hotel Fund, which was created in March, has purchased 25 hotels for a total of â‚¬350 million. Seventeen of the hotels are located in Germany, six in Switzerland and two in Belgium. Fattal also owns 18 hotels in Israel.