Israeli hotel group expanding presence in Cyprus
New major investment plans in Cyprus are under way by Fattal Hotel Group, the largest hospitality organization in Israel and one of the fastest-growing hotel groups – with 270 units in 117 destinations. It is now further expanding its portfolio in Cyprus.
The company owns nine hotel units in Paphos, Larnaca, Protaras and Limassol.
The latest investment has been the acquisition of a flagship 5-star hotel, the Grand Resort Limassol, for which there are plans to undergo major renovations and to be included in the Leonardo Hotels Limited Edition brand.
Also, the company has acquired Elias Latsi Holiday Village Resort, which will soon be completely renovated and renamed Leonardo Club Family Resort.
The group has also just opened a new hotel in Limassol under the NYX brand, while another NYX hotel is expected to be completed in Nicosia. [Financial Mirror]
