Kevin Bermeister and Partners Acquire Leonardo Inn
Thursday August 16th, 2012 - 10:48AM
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JERUSALEM—Kevin Bermeister and a group of private investors have purchased the Leonardo Inn Hotel Jerusalem for $17.5 million.
Bermeister and his partners purchased the shares of Kedem Hotel Jerusalem Ltd., the owner of the hotel in an all-cash transaction.
The Leonardo Inn Jerusalem was previously managed by Fattal Hotels, the operator of several Leonardo hotels.
Bermeister and his partners currently are exploring opportunities for future development and expansion of the hotel to create more rooms for tourists and visitors.
“This transaction represents our first completed investment in the tourism development sector of Jerusalem and we expect to make multiple future investments in this sector, either directly or through a specialized investment fund,” Bermeister said.
The property features 185 rooms, a spa and health club with a sauna, a Jacuzzi and both outdoor and indoor swimming pools.
Tags: Hospitality Ownership
The most recent NYU Conference, earlier this month proved, once and for all, that the lodging industry has finally turned the corner and happy days are, indeed, here again. While the economists and pundits all provided plenty of anecdotal evidence to bear that out in terms of supply and demand ratios, RevPAR projections, asset values and all the other metrics, that’s not what has me convinced.