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|  | Amsterdam, Holland (archives) Photo: Michel Dor
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| | | | | Eli Papouchado |
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Israeli businessman to build hotel in Amsterdam
Park Plaza company to invest some €30 million in construction of six-story hotel in building slated for preservation
Ory Chudy, Calcalist
The Park Plaza hotel chain of the Red Sea Group, which is controlled by Israeli businessman Eli Papouchado, will set up a hotel in a building slated for preservation in the Dutch capital of Amsterdam.
Some €30 million will be invested in the hotel, which will include six floors and spread over some 6,000 square meters (64,583 square feet).
The building, slated for preservation, used to house the city's main archive and is located near the railway station and another hotel owned by the company.
The company recently signed an agreement with the Amsterdam Municipality to develop the structure for preservation. According to the agreement, the building's first two floors will be used as an art gallery, while the rest of the floors will serve as a hotel. The hotel will include some 100 rooms of different sizes.
The company currently operates some 40 hotels in Europe and in the Middle East, including the Westminster Bridge, a huge hotel expected to open in London in early 2010.
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