Globes reports: Tourism Minister Stas Misezhnikov said that the visitor arrival statistics point to the continuing trend of recovery from the economic crisis. He pointed out that there is also what he called "unprecedented" demand from entrepreneurs to invest in hotels.
37 entrepreneurs recently replied to the Tourism Ministry's invitation for grant allocations to establish new hotels and to return buildings once used as hotels to their former use. The Tourism Ministry allocated 300 million NIS to providing grants for entrepreneurs within the framework of the 2009-2010 work plan for this dual purpose. An extra 100 million NIS will be allocated to this program next year in line with demand.
For the first time, the program allows entrepreneurs to receive a grant for converting buildings previously used as hotels back to their former status as well as refurbishing old hotels and, in addition, improves the efficiency of the grant application procedure.
The Tourism Ministry will give priority to requests from areas that are already in tourist demand and/or with a shortage in hotel rooms, such as Jerusalem, Tiberias, the Sea of Galilee area, Nazareth, and Acco.
I am involved in this construction business and I am helping people to get State land, ecological subsidies and so on. I could do it better than them! Getting State finance for hotel business is an opportunity. In the past, ancient hotels were renovated and later sold as apartments. Or the Herzliya Marina aparthotels (pic), that are now superexpensive luxury apartment houses. It has been completely forgotten that they were allocated sea-front real estate and subsidized finance by the State for another purpose.
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