Israeli hotel group Fattal Hotel Group, listed on the Tel Aviv Stock Exchange, recently reported that it raised 315 million euros from Israeli institutional investors led by Harel Insurance Investments and Financial Services and Menorah Mivtachim Group in order to expand its hotel portfolio in Europe. The amount raised could increase to 400 million euros if Leumi Partners and other investors join the agreement.

In a recent statement, Shahar Aka, CEO of Fattal Hotel Group, highlighted how the Covid-19 crisis has created opportunities in Europe to buy hotel assets at attractive prices. Fattal therefore plans to buy 30 hotels in Western Europe – mainly in Germany, Spain and the UK, but the company said it will also consider acquisitions in Poland, Greece and Portugal. The company also said it has already purchased two 260-room hotels in Malaga and Mallorca in Spain for € 40 million.

Fattal operates in 19 countries, and as of March 2022, managed 192 hotels out of 227 total hotels in the chain, including 170 hotels in Europe and 57 in Israel. Fattal Hotel Group is also present in Italy with 2 brands (Leonardo Hotels and NYX Hotels) and 5 hotels (approx. 900 keys) between Milan, Venice, Verona and Rome. To further strengthen its presence on domestic soil, Rafi Carmon, Country General Manager Italy, stated that the group intends to expand in northern, central and southern Italy, where new openings will soon be finalized. As part of a broader growth strategy, Fattal Hotel Group will subject Jurys, one of the best-known Irish hotel chains, which it has owned since 2017, to a major rebranding plan. The rebranding of the 35 Jurys Inn hotels in Ireland and the United Kingdom to the “Leonardo” hotel will take place this autumn, and could also include the opening of new hotels in Dublin, Galway and Cork.