Clal Selling Accor Hotels
The chain includes the Novotel Jerusalem, Novotel Dead Sea, Mercure Tiberias, Mercure Suites Bat Yam
ISRAEL, October 20, 2006. IDB Holding Corp. Ltd. (TASE:IDBH) subsidiary Clal Tourism Ltd. today published a tender for the sale of the Clal Accor Israel hotel chain. The company is also offering for sale the chain's management company, which has the rights to the Novotel, Mercure brands of French hotel company Accor SA (Paris:AC; ACRFF.PK). Clal Tourism bought Accor Israel from Accor SA, which owns 4,000 hotels worldwide, a few months ago.
Clal Tourism's minimum asking price for Clal Accor Israel is NIS 375 million. Clal Tourism CEO Arie Orr and Clal Finances Tahori Investment House Ltd. will jointly conduct the tender
The chain's hotels in Israel include the 300-room Novotel Dead Sea, which has a new conference hall; the 400-room and suites Novotel Jerusalem, and which has events halls and a dairy restaurant; the recently renovated 260-room Mercure Tiberias, which has a nine-dunam (2.25-acre) private beach on the Kinneret and building rights; and the management rights to 120-room Mercure Suites Bat Yam; and franchise rights to Mercure B&P Tel Aviv, a boutique hotel.
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