Ritz-Carlton will build a hotel in Israel

The chain of luxury hotels Ritz-Carlton has announced its intention to open the first hotel in Israel by 2012, - Reuters reports.

New Ritz-Carlton hotel in Israel will be located on the quay of Tel Aviv - one of the largest cities in Israel. According to the plans of the hotel chain the number of rooms in the hotel will be 110 rooms, 85 of which will be represented by apartments.

The main investors, who will finance the construction of the hotel, will most likely be the two Israeli companies: Tidhar and Adi's Investments. According to preliminary calculations the amount of investment in the construction of a luxury hotel in one of the prestigious districts of Tel Aviv will be about 160 million dollars.

Herzliya district in Tel-Aviv, where a hotel will be located, is considered some sort of "Silicon Valley" of Israel. Offices of many well-known IT companies are concentrated here.

Ritz-Carlton chain has announced its intention to build a new hotel on the second of December. Approximate date of opening of the new hotel is March 2012.

Ritz-Carlton manages about 70 hotels around the world. Among the most famous hotels owned by the brand are legendary Ritz hotels in Paris, London and Madrid. To date Ritz-Carlton is presented in four countries of the Middle East. Hotels of the chain in this region were opened in Egypt, Bahrain, Qatar and the UAE. Ritz-Carlton – is a brand owned by a corporation Marriott. To date, the only Marriott hotel in Israel is represented in Tel Aviv - Renaissance Tel Aviv Hotel.

Ritz-Carlton was not the only brand that recently announced the intention to enter the hotel market in Israel. Not so long ago another large American hotel corporation Hilton has announced its intention to build a luxury hotel under the brand of Waldorf-Astoria. Hilton intends to open a new Waldorf-Astoria Hotel in the heart of Jerusalem by the end of 2010. The cost of construction of the Hilton hotel is valued slightly more modest - about 100 million dollars.