The chain's first hotel will be opened by the Canadian Reichman family in 2011 in Jerusalem, opposite businessman Alfred Akirov's Mamilla Hotel, at a total investment of $100 million. It is expected to be Israel's most luxurious hotel.
Developer Henry Taic plans to build the second Waldorf Astoria Hotel on the area north of the Tel Aviv Hilton Hotel, which includes its parking lot and gas station. The new hotel will be integrated into the activity of the historic hotel located near Independence Park.
According to Architect Moshe Zur, who is conducting the negotiations with the Tel Aviv Municipality, it is still unclear home many floors or room the hotel will have and whether it will include vacation flats.
Taic confirmed to Yedioth Ahronoth the existence of construction plans near the Hilton, adding that it would be a long process. In any event, the new hotel's location is not expected to block the Hilton guests' view.
Two Waldorf Astoria hotels in Israel will expand the country's five-star deluxe hotel industry, which includes the two Ritz hotels being built in the Herzliya Marina and on Tel Aviv's Rothschild Boulevard and the Four Seasons Hotel planned in Jerusalem's German Colony.
The Jerusalem hotel, being built by the Hilton corporation and the IPC Jerusalem company within the historical Palace hotel, is located on the corner of King David and Agron Streets – short walking distance from the Old City – and will include 220 rooms and suites and 30 residential apartments.
Waldorf Astoria Collection currently has five hotels, four of them in the United States. The Jerusalem hotel will be the second one located outside the US after the hotel in Jeddah, Saudi Arabia.
In addition, Taic is planning a hotel with residential apartments near the David Intercontinental Hotel which he also owns, at a total investment of NIS 750 million ($210 million).
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