The Dan Hotels chain is acquiring three hotels from Israel Land Development Hotels, owner of the Rimonim hotel chain, for a total of NIS 225 million, according to a report by Globes. The hotels are Rimonim Eilat Hotel, with 278 rooms and 1,600 square meters of space; Ruth Rimon Hotel in Tzfat, with 75 rooms; and Rimonim Nazareth Hotel, with 226 rooms. The deal is contingent on approval by the Israel Competition Authority director general and the bank holding a lien on the Rimonim Eilat Hotel.
The Rimonim hotel chain has other hotels: Rimonim Galei Kinneret Hotel, Rimonim Palm Beach Hotel in Akko, Rimonim Tower Hotel in Ramat Gan, and Rimonim Shalom Hotel in Jerusalem.
The agreement gives Dan Hotels the right to negotiate for an agreement to manage three more Rimonim hotels not involved in the deal.
Israel Land Development Corporation owns 83.3% of Israel Land Development Hotels, which operates mainly under the Rimonim brand. There are eight Rimonim hotels with a total of 1,255 rooms.