Africa Israel Hotels and Isrotel 1.2 B€ hotel investment in Greece & Cyprus
The Isrotel chain is leaving Israel for the first time to expand overseas. According to the Israeli newspapers Calcalist and The Marker, the parties are currently negotiating to purchase several hotels in Cyprus and Greece.
The Dayan brothers, which are aggressive in the hospitality business, are a beneficiary owners of AFI Hotels in Israel. Due to this fact, they decided to expand their business to Europe and other regions. This has been confirmed by the Israeli newspaper Calcalist, as the hotel chain and the brothers are to buy 60 hotels in Greece and Cyprus for a massive amount of 1.2 billion Euros.
In fact, the hotels are currently on sale; hence, this prompts the purchase of several hotels by the Isrotel chain and Dayan brothers. Most of the hotels they are planning to buy are located in most regions in Greece and the minority in Cyprus. However, nobody still knows if other entities are bidding on the hotels for sale.
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