A new luxury resort is under construction at Amnon Beach on the northern shore of the Sea of Galilee, in a project estimated at about 500 million shekels, or roughly $173 million.
The resort will include around 200 suites with private pools, restaurants and commercial areas, and will be operated by Isrotel. Construction is currently at the structural framework stage, with the opening planned within about three years.
The complex will cover roughly 90 dunams and include about 200 suites of around 60 square meters each, alongside dining and retail areas. The project is being developed by Pai Siam Group, led by entrepreneur Shlomo Dahuki, owner of the Ibis hotels in Israel.
Bank Hapoalim is expected to provide financing of up to 525 million shekels, or about $182 million, for the project.
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The resort will include around 200 suites with private pools
(Photo: Feigin Architects)
“The financing agreement is conditional on Isrotel operating the hotel, because we attach importance to the quality of the operator,” Shmulik Arbel, head of Bank Hapoalim’s business division, told ynet.
“It is true that the hotel industry has faced significant challenges over the past five years, and that is why it is important to work with a chain that knows how to operate even during complex periods,” he said. “Companies that operate in only one region usually face greater risks. A chain like Isrotel, with nationwide deployment and a significant presence in Eilat, benefits from diversification that allows it to cope better with difficult periods.”
Arbel added: “In the end, there is only one Sea of Galilee, and we believe the complex will become one of Israel’s significant tourism sites. The hotel industry is one of the core sectors of the Israeli economy, and Bank Hapoalim is one of the leading bodies in financing and supporting hotel projects.”
Dahuki, controlling shareholder and chairman of Pai Siam, said the Amnon Bay luxury resort is expected to set a new standard for resorts in Israel.
“Its unique location on the shores of the Sea of Galilee is expected to make the project one of the most sought-after and prestigious resort hotels in Israel,” he said.
Isrotel CEO Lior Raviv said the new hotel at Amnon Beach “is expected to become a major and significant tourism anchor in the area.”
First published: 16:18, 05.24.26