Fatal announces that it has become the largest hotel chain in Austria

The company, which already has 10 hotels and 1,400 rooms in Austria, became the largest hotel chain in the country, after purchasing a hotel in the center of Vienna and signing a deal to manage 8 more hotels

Walla!

Of money

03/10/2022

Monday, October 3, 2022, 10:15 a.m. Updated: 10:22 a.m.

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Fatal's new hotel in Vienna, Austria (photo: courtesy of Fatal)

The Fatal chain, the largest hotel chain in Israel and Germany, which includes 250 hotels and over 46,000 guest rooms in Israel and abroad, strengthens its international presence in Europe and from today also becomes the largest chain in Austria.

The company signed an agreement to manage 8 hotels in the centers of major cities in Austria , from the "Star Inn" company, in exchange for NIS 18 million for a period of 25 years. The hotels will operate under the chain brand "Leonardo" and include 1005 rooms. Two of the hotels are located in Vienna, three hotels and two housing complexes in Salzburg and one hotel is in the city of Linz.

At the same time, Fatal completed the purchase of a three-star hotel in the center of Vienna for approximately 32 million euros. The purchased hotel has 211 rooms and will also be opened to the public under the "Leonardo" brand, which is becoming the largest hotel brand in Austria.

The purchase of the hotel was made as part of the Fattal Group's investment venture with institutional investors in Israel, which include Harel Insurance, Menorah-Mvathim and Bank Leumi (through Leumi Partners) and includes after the purchase 13 hotels in Spain, Austria, Cyprus, Greece and Poland.

Hotel of the Fatal chain in Salzburg, Austria (Photo: Courtesy of Fatal)

Yoram Biton, CEO of the chain in Europe

: "As of this morning Fatal has become the largest hotel chain in Austria with 10 hotels totaling approximately 1400 rooms.

The hotels are in excellent locations throughout the country and in fact Fatal, which is the largest chain in Israel, is the first Israeli chain to lead the hotel sector in Germany and Austria as well and is considered a significant player in Great Britain, the Netherlands and Spain.

In recent years, Austria has become one of the most touristic countries in Europe and we believe that we will be able to significantly improve the hotels located in strategic areas of the country.

It should be noted that the deal to manage the 8 hotels from the "Star Inn" group in Austria was complex, since the company entered insolvency proceedings in May of this year, and required consideration and balance between the diverse interests of the creditors, hotel owners, employees and owners of the Star Inn group."

The Fatal hotel chain, owned by the Fatal family (59.86%), was established by David Fatal in March 1998 and specializes, through corporations held by it, in the ownership, operation, rental and management of hotels in Israel and Europe as well as in the purchase and construction of new hotels.

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Yoram Biton, CEO of the Fatal hotel chain in Europe (Photo: Courtesy of Fatal)

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