Israel: The Palatin Hotel, has been acquired by Israeli group Fattal Hotels ltd., with an intention of restoring the building to its original purpose
The iconic pink building, built in 1926, had been converted from the city’s first luxury hotel to an office building in 1942, following the Great Arab Revolt
The company intends to preserve the architecture of the building, attempting to restore the historic décor on the inside. Plans are in place to construct restaurants, recreation spaces, business facilities and a grand lobby featuring the building’s original ceiling.
Asaf Fattal, business manager and architect of the acquisition, said: “I see the Palatin Hotel as a Tel Aviv icon, an important step in the company’s development in the city.”
“The new hotel will cater to both tourists who come to Tel Aviv for leisure and business purposes, as well as to Israelis seeking urban vacation in a luxury hotel close to all the vibrant places in the city.”
This is the third announcement for Fattal hotels in Tel Aviv, with two similar announcements of boutique hotels scheduled for launch in 2021. The company currently operates 42 hotels in Israel and over 200 in Europe.
Tel Aviv has seen significant business recently, with Atlas Hotels opening its first property, and Brown hotels acquiring four. With Fattal’s similar announcement of the renovated Kabbalah centre hotel in July, the group may be able to fight for dominance in an increasingly crowded city.