After a 15-year partnership, Fattal will become the sole owner of her and the Amoyal family’s joint hotel company, in a deal worth half a billion ILS.

Fattal, the hotel chain controlled by David Fattal (52.4%) acquires the share (50%) of AMA Hotels in the joint company of the two, Protal Tourism, which owns 11 hotels in Israel.

The registered owners of AMA Hotels are the Amoyal family, headed by the French Jewish businessman Prosper Amoyal, who is known to be active in the hotel business in France.

Following the move, Fattal will become the sole holder of Protal, so that for the first time its financial results will be consolidated with those of Fattal, starting with the reports of the third quarter of the year – the current quarter.

The consideration for the transaction is approximately 520 million ILS. Most of the proceeds will be transferred in cash, and at the same time, Fattal will transfer to AMA Protal’s rights (50%) in the complex of Herods hotels in Eilat (Herods Palace Eilat, Herods Vitalis Eilat and Herods Boutique Eilat), which have 440 rooms and are worth an estimated 600 million ILS.

Following the move, the Amoyal family, the controlling owner of AMA Hotels, will become the full controlling owner of Herods Eilat. The hotels that Fattal already manages today will be leased to her for another 20 years.

Fattal, for which the transaction reflects a value of 1.04 billion ILS, owns (after the transfer of Herods Eilat) 11 hotels with about 2,300 rooms, which Fattal has been renting since 2017. Including the Herods hotels in Tel Aviv and the Dead Sea, and the Leonardo City Tower near the stock exchange complex in Ramat Gan and the Leonardo Plaza in Miami. Its revenues in 2023 were 179 million ILS and the net profit was 57 million ILS. The value of its assets amounted to 1.9 billion ILS and its equity was about 1 billion ILS.

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