Israel Ministry of Tourism organises Second Hotel Investment Summit

Thursday, November 14, 2019

Israel is all set to organize the second Israel Hotel Investment Summit (IHIS), which is part of the International Hotel Investment Forum (IHIF) series.

Tourism is thriving in Israel. In July and August 2019, overnight stays have increased by 5% – a total of 1.66 million overnight stays – in comparison to the same time in 2018. Jerusalem and Tel Aviv were the most well-liked destinations netting about 33% and 31% of overnight stays, respectively. Taking a broader view across the year from January to August, Israel’s tourist arrivals grew by about 10% in comparison to 2018. With backpackers and family travelers, religious tourism remains the highest motivating factors arriving in increasing numbers.

As per a German travel site, OMIO, Tel Aviv is positioned as world’s third most expensive city for the tourists, behind Hong Kong and London. This real, as well as perceived expense is harmful as international travelers consider their destination options. This unwanted accolade also affects domestic tourism as Israelis choose to travel outside their country intermittently for a better value tourism experience.

Alexi Khajavi, Managing Director, EMEA & Chair, Questex Hospitality Group said; “The Israeli hotel investment market occupies a healthy position but also one of considerable opportunity. The strong tourist figures and ambitious targets set by the Ministry of Tourism provide a robust platform but there is also the demand for budget and mid-level offerings that is turning the heads of international operators and investors. Coupled with the thirst for a design led offering that is also permeating into the hostel markets, there is plenty for the industry to debate and discuss. We’re delighted to be hosting the Israel Hotel Investment Summit for a second year and look forward to bringing the leaders, pioneers, challengers and disruptors from across the industry together in Tel Aviv next month”.

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