The hotel company has 1,100 rooms in 9 hotels and also has land to build a new hotel in Eilat, and it plans to almost double the scope of activity and build another 1,000 hotel rooms.

Reuven Alex, CEO of Israel Canada Hotels: “We will continue to grow and innovate in the hotel industry in Israel and in the future in the world. Both in Israel and around the world there are unique opportunities right now. We will know how to make interesting deals as we have done so far”.

Nir Moroz, Deputy CEO and Director of Investment at Menora Mivtachim: “We see Israel Canada as a hotel in Israel, a company with high potential for value improvement and a quality management team”.

Israel Canada was accompanied in the transaction by Adv. Levi Amitai, Ben Brand, Chen Shoshan and Mai Tzur from Goldfarb Seligman, and Menora Mivtachim was accompanied by Adv. Orit Israeli, Guy Cohen from Fischer.