Israel Canada Hotels continues to expand its activity in Israel’s hotel market, announcing the acquisition of 50% ownership in two hotels in the north of the country – the Galilion Hotel in the Hula Valley and the Kfar Giladi Hotel in the Upper Galilee. The total scope of the deals is estimated at approximately NIS 142 million, and together they include 278 guest rooms.
The acquisitions represent another step in the chain’s expansion strategy, with an emphasis on areas that serve as hubs for leisure and vacation tourism. Upon completion of the deals and the required regulatory approvals, the management of the hotels is expected to be transferred to Israel Canada Hotels.
The Galilion Hotel, which has 120 rooms, is located in the heart of the Hula Valley and features a spa center, swimming pool, conference center, restaurant, and commercial center. The Kfar Giladi Hotel, one of the well-known and established hotels in the Upper Galilee, has 158 rooms, an indoor swimming pool, an outdoor summer pool, a gym, spa, and a large, advanced conference center.
According to the details of the deal, the consideration for purchasing 50% of the Kfar Giladi Hotel is approximately NIS 77.5 million, while for the Galilion Hotel the chain will pay around NIS 65 million. Kfar Giladi Kibbutz was represented by Attorney Aryeh Lamay from the law firm NASCHITZ BRANDES AMIR.
Prominent Presence in the North
The new hotels join Israel Canada Hotels’ existing operations in northern Israel, which include the Galei Kinneret Hotel and Lake House Hotel in Tiberias, the Nofei Gonen vacation village, and Vered HaGalil vacation farm – strengthening the chain’s position as one of the leading players in the region.
Reuven Elkes, CEO of Israel Canada Hotels, said that this is another step in implementing the company’s growth strategy, which focuses on strengthening the group’s brands in Israel and abroad. According to him, the chain recently received approval from the Antitrust Authority for the management agreement of The George Hotel in Tel Aviv, and it sees the new acquisitions as an opportunity to increase its market share in both domestic and international tourism.
Tamir Abrahams, CEO of Kfar Giladi Tourism, stated: “The entry of Israel Canada Hotels as a partner in the Kfar Giladi and Galilion Hotels is a significant move for us, allowing continued development and enhancement of the hotels while preserving their values, character, and unique heritage. We see this as an opportunity to strengthen the tourism anchor and central role of Kfar Giladi Kibbutz and the Upper Galilee, deepening its contribution to tourism in northern Israel.”
Abrahams added: “This current move is part of a broad strategic process led by Kfar Giladi Kibbutz in the post-war period, with a long-term vision of strengthening and expanding the kibbutz’s business activity. The kibbutz’s business development is not disconnected from the environment in which we operate; it is an integral part of our vision to contribute to the development of the Upper Galilee and northern Israel as a whole.”