The man who focused on providing large amounts of groceries at reasonable prices while keeping his supermarkets integrated with Arabs and Jews, is now turning his attention to providing hotel lodging at “reasonable prices” in the Israeli capital.
About two months ago, supermarket mogul Rami Levy purchased a tract of land near the Armon Hanatziv Sherover Promenade in Jerusalem together with Jerusalem contractor Avi Murdoch.
The NIS 150 million investment included permits for a hotel, which already came along with the land. The two business leaders will also submit a request to the Ministry of Tourism for support from the special fund allocated to encourage hotel construction in Jerusalem.
Under the initiative, the Ministry fund grants approximately one-third of the cost of the project to investors. It’s aimed at increasing the number of hotels in the capital.
Construction of the 180-room hotel – expected to rate between three or four stars – is expected to take up to three years, Levy said. “It won’t be an expensive hotel but it will have five-star service,” he told the Globes business news site.
