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Want to stay cheap at the Eilat Hotel?
Here is the perfect solution to this
The Israelis who fly abroad en masse - remained grounded this summer because of the corona. In Eilat and other sought-after vacation areas, mostly luxury hotels are being built, while about 20,000 guest rooms are missing throughout the country. Noam Brender offers an excellent solution to the cost of our vacation.
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Hotels
Hotel rooms
Holiday
Cost of living
Noam Brender
Wednesday, 11 August 2021, 09:10 Updated: 09:15
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The corona crisis has also sharpened trends, failures and problems in Israeli domestic tourism.
The gates of entry and exit from the State of Israel have been closed in full or in part, the world has become smaller and the sky is already less open to us, and Israelis who used to fly abroad in large numbers have remained grounded in Israel
. The average Israeli family looking to vacation in Israel in August or during the Tishrei holidays needs to break a savings plan and take out a loan.
So how come a family vacation in Eilat for three nights in August costs much more than 10,000 shekels?
And this is another summer when the gates of Israel are closed to tourists, even if they are vaccinated.
As of the summer of 2021, in less than a decade, there will be a shortage of about 20,000 guest rooms in Israel at all levels and styles of accommodation.
The main shortage of rooms is in the Value Hotel, because during the last two decades there have been almost no hotels of 3 stars or less in Israel, and a preference has been given to building high-quality hotels of 4-5 stars.
Airbnb's entry into the Israeli market was a temporary solution in the face of the shortage of guest rooms, but then came the corona that took a lot of the property renters out of the market for a short period of time.
It is estimated that about half of the apartments rented for the short term are no longer part of the supply of tourism properties and this causes a shortage of guest rooms in all destinations in Israel.
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How come a family vacation in Eilat costs more than 10,000 shekels?
(Photo: ShutterStock, Shutterstock)
The solution: Self Service hotels
The year 2019, before the Corona crisis, during which 4.5 million tourists entered Israel's gates and more than 20 million passengers passed through Ben Gurion Airport, should be the basis for Israel's domestic tourism planning. If Israel wants to utilize its natural resources and tourism, the Ministry of Tourism In strategy and thinking - beyond the concept of low payment for accommodation and higher expenses on the tourist experience. Only a significant reduction in accommodation prices will ultimately leave tourists here for a longer period of time. Accommodation and accommodation.
Israel is one of the leading countries in the Western world in the percentage of hotel occupancy. Prior to the Corona crisis, the national average was more than 75% of annual occupancy. In the demand areas of Eilat and the Dead Sea, the occupancy rate was higher than 77% and the occupancy data in other areas of the country, such as Jerusalem (73%), Tel Aviv (75%), Netanya, Haifa, Tiberias and the Galilee, were high. According to global data, hotels are becoming profitable even at an annual occupancy of 40%. The profitability of the industry can also be seen in the financial statements of the tourism companies traded on the stock exchange. Entrepreneurs who examined the profit potential of investments in hotels in Israel found that an annual return of 9-12% is quite realistic, a figure significantly higher than the return on residential real estate which stands at about 3% or commercial real estate with a return of about 5%.
Back to summer 2021.
The shortage of guest rooms is what causes a huge demand on the one hand and a shortage of supply on the other.
In Eilat there is a concentration of hotels with a high level of accommodation, but a shortage of cheaper accommodation solutions.
In Israel as a whole, there is already a shortage of thousands of guest rooms at all price levels.
The shortage is in the high demand areas for domestic and foreign tourism such as Eilat, the north and the Dead Sea, but there is also a shortage in areas where the demand is lower.
If no way is found to encourage the entry of investors and investments into tourism, with an emphasis on building hotels, then the prices we pay this summer will be lower than the prices we will pay in the future.
Noam Brender is the chairman of the real estate index company that represents the easyHotel franchisee in Israel
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