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Simon Cooper, President & chief operating officer of the Ritz Carlton Hotel Company; the Tidhar Group, headed by Gil Geva and Arye Bachar; Adi’s Investment Group, owned by Adi and Irit Strauss; signed an agreement to build the first Ritz Carlton Hotel in Israel at the Herzliya Marina.

The prestigious hotel chain, Ritz Carlton, announced that it intends to build its first hotel in Israel, containing 110 suites and 85 residential units for sales. The extent of the investment stands at 600 million shekels with a planned opening date of March 2012.

The exclusive hotel chain, which includes 70 hotels in 24 countries located throughout the Americas, the Asia-Pacific, the Middle East and Europe. They also have a hotel at Sharm El Sheikh in the Sinai Peninsula and are planned to open a new hotel in Cairo. The Israeli franchisee, Adis Investments, indicated that more than 30 new hotels are currently under development.

Adi’s Investments and the parties involved in the project recently hosted Simon Cooper, President of the Ritz Carlton chain; where he said that the choice of Herzliya Pituach as the first location that met the tourist, business and image criteria of the chain.

Cooper:”We believe that the construction of this hotel is the first step in the development and construction of additional hotels in Israel in the future.”  He added that the enthusiasm for the project from the Israeli government and investors reflected on the confidence and belief that they have in the global brand name.

Gil Geva, Co-Owner, Chairman & Group CEO of Tidhar, said that the Ritz Carlton Hotel would set a new standard in hotel and tourism in Israel regarding prestige hospitality and comfort and will serve as a generator of growth for the city of Herzliya and for the tourism industry in general.